China's yuan has plunged in the past three days

Earlier post on:

Onshore yuan (CNY) continues its fall – lowest since October 2021

Where I noted:

The PBOC made a small cut to its RRR rate late last week:

PBOC made a small cut to its RRR, 25bps to take effect from April 25

And then left its benchmark interest rates unchanged:

People's Bank of China loan prime rates (LPR) setting for April 2022: rates unchanged

It looks like the Bank is providing some economic stimulus by encouraging the yuan to drop:

Eyes are on the PBOC CNY setting rate today
Offshore yuan, too, very heavy indeed (i.e. higher USD/CNH):

The 3 day move is the l;argest drop since August of 2019.