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PBOC sets USD/ CNY mid-point today at 6.3996 (vs. estimate at 6.3853)
USD/CNY is the onshore yuan. Its permitted to trade plus or minus 2% from this daily reference rate. • CNH is the offshore yuan. USD/CNH has no restrictions on its trading range. • A significantly stronger or weaker rate than expected is typically considered a signal from the PBOC. • Previous close was 6.3940. The mid-rate today at 6.3996 is the weakest for the CNY since November 12 of 2021. The mid-rate setting topday is much weaker for the CNY than expected. Meanwhile, moments ago the PBOC left the one- and five-year LPRs unchanged: • People's Bank of China loan prime rates (LPR) setting for April 2022: ... (full story)