Central Parity Rate of Yuan Against Dollar Declines By 226 Basis Points Before Interbank Market Opening
Liao Shumin
/SOURCE : Yicai
Central Parity Rate of Yuan Against Dollar Declines By 226 Basis Points Before Interbank Market Opening

(Yicai Global) Aug. 28 -- The central parity rate of the yuan (CNY) against the US dollar (USD) declined by 226 basis points today before the opening of interbank market. This represents almost 52-week high of the yuan appreciation against the dollar since Aug.19, 2016.

The China Foreign Exchange Trade System (CFETS), the interbank trading and foreign exchange division of China's central bank, the People's Bank of China (PBOC), set the yuan central parity rate at 6.6353 against the dollar last Friday, compared with the previous official close of 6.6645.

The central parity rate of the yuan against the dollar is based on a weighted average of prices offered by market dealers before the opening of the interbank market each business day.

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Keywords: Yuan-Dollar , Central Parity Rate