Yuan’s Arbitrage Window Closes as PBOC Erases Difference: Chart

PBOC's Yuan Plan Details Market Role

A year after China’s shock move to devalue the yuan led to a widening spread between the currency’s rates at home and abroad, the gap has all but disappeared. The authorities choked outflows and pushed offshore borrowing costs to as high as 67 percent to combat speculators driving the yuan in Hong Kong lower.

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