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Offshore yuan lending rates decline from their record yesterday

Discussion in 'Market News' started by ForexLive, Jan 13, 2016.

  1. ForexLive

    ForexLive Forum Member

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    Yuan HIBOR fix now - the overnight rate: - On Monday it hit a record 13.4% - Then, yesterday it smashed that record for a new one at 66.8% The PBOC wants to control the rate at which the yuan declines, which is why they crushed CNH shorts looking for further devaluations. The bank has held the yuan fix onshore stable now for 4 days, and it appears its 'mission accomplished' in the overnight lending marker for the time being too.

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