they have an offshore pool, like eurodollar, so it is not a capital flight per se but it will pressure the rating fixing to match, aka depreciation. but that is already expected, their rate is 3.45 while the fed is at 5.5
What about using CNY CFDs? I see one in my Hotforex platform, how do I check if its cheap to short or not? Via daily swaps or are there other costs?