{
  "id": "palimpsest-news:cny-fix-gap",
  "slug": "cny-fix-gap",
  "url": "https://palimpsest.info/news/cny-fix-gap/",
  "signal_id": "cny-fix-gap",
  "headline": "The official yuan fix gap is -0.9013% against the independent reference",
  "dek": "The daily comparison sets the PBOC parity against same-day external reference rates and publishes cross-check disagreement.",
  "section": "economy",
  "order": 2,
  "type": "measurement",
  "priority": "high",
  "status": "live",
  "published_at": "2026-08-23T17:27:00Z",
  "modified_at": "2026-08-23T17:27:00Z",
  "claim_fingerprint": "sha256:70bfee414ed98ef560e5da15029480291d1ba91a9530a3f18d491e71e9d3a5b4",
  "metric": {
    "label": "fix gap",
    "value": -0.9013,
    "unit": "percent",
    "denominator": {
      "label": null,
      "value": null
    }
  },
  "claims": [
    {
      "type": "finding",
      "statement": "The current official-fix minus independent-reference gap is -0.9013%."
    }
  ],
  "evidence": {
    "url": "https://palimpsest.info/readings/cny-fix-gap-latest.json",
    "input": {
      "filename": "cny-fix-gap-latest.json",
      "sha256": "8a2114ec59b319bf7bcced76520f59786e4cff226af29854f4f2bf719f1123b8",
      "bytes": 1434
    },
    "source_timestamp": "2026-08-23T17:27:00Z"
  },
  "method": {
    "summary": "two prices for one currency: the state's 09:15 Beijing fix vs an independent same-day market reference (ECB concertation, 14:15 CET = 20:15 Beijing). gap_pct > 0 means the market prices the yuan weaker than the fix; the band is ±2%, so gap_pct is read against that scale. Computed only on days a fix exists — ECB prints CNY on Chinese holidays and a gap against an unset fix would be fiction. Onshore only: no licence-clean keyless CNH source exists (the TMA fixing is licensed), stated rather than worked around. cross_check_diff is the ECB-vs-BoC derivation disagreement, published so a silent break in either source is visible; it is null on rounds where the Bank of Canada leg did not answer. Economic backdrop, not censorship — deliberately off the alarm board",
    "version": 1
  },
  "limitations": [
    "The comparison is onshore and same-day but not simultaneous; it is economic context, not direct evidence of censorship."
  ],
  "related_signal_ids": [
    "china-econ",
    "stock-connect",
    "data-darkness"
  ]
}