China's CNY Central Parity Adjusts to Highest Level in Over a Month
Yicai Global
/SOURCE : Yicai
China's CNY Central Parity Adjusts to Highest Level in Over a Month

(Yicai Global)Sept. 22 -- The People's Bank of China (PBOC) posted a CNY central parity of 6.6531 against USD today, adjusting it up 225 points from the 6.6738 reported yesterday, the highest such climb in more than one month.

Media report that General Secretary of the State Council Mr. Li Keqiang said in an address to the United Nations General Assembly yesterday that China will develop economically through further opening, and repeated his pledge not to resort to CNY devaluation to spur economic growth.

Also, the US Federal Reserve Bank kept its rate unchanged, but said increases were likely within the year. Fed chair Janet L. Yellen predicted one interest rate rise this year, which will further ease CNY devaluation pressure.

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