China's Yuan Parity Rate Inches Down 2 Bips to 6.8932
Liao Shumin
/SOURCE : yicai
China's Yuan Parity Rate Inches Down 2 Bips to 6.8932

(Yicai Global) June 12 -- The People's Bank of China weakened the yuan's central parity rate against the dollar by 2 basis points to 6.8932 this morning, which is 206 bips stronger than yesterday's market close.

The central bank's China Foreign Exchange Trade System fixes the benchmark rate each business day morning and spot rates may deviate 2 percent around that figure.

The sport rate of the yuan against the greenback strengthened about 200 bips yesterday due to the central bank's plan to issue yuan bills in Hong Kong in late June.

Editor: William Clegg

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Keywords: Central Parity Rate