PBOC Sets Yuan-Dollar Central Parity Rate 22 Bips Firmer
Tang Shihua
/SOURCE : yicai

(Yicai Global) April 11 --  The People's Bank of China fixed the central parity rate of the Chinese  yuan against the US dollar slightly stronger than yesterday. 

The China Foreign Exchange  Trade System, the interbank trading and forex division of the central  bank, set the midpoint 22 basis points firmer at 6.7088. 

The onshore spot exchange rate of the yuan was against the greenback is 6.7158  at the close of night trading Wednesday. The offshore spot exchange rate was 6.7188 at the time of the New York market close.

The China Foreign Exchange  Trade System, the interbank trading and forex division of the central  bank, sets the benchmark on the morning of each business day. Spot rates  may deviate 2 percent above or below the figure.

The yuan has been trading  in a narrow range against the greenback since early March, following a  period of significant appreciation coinciding with the resumption of the  US-China trade talks.

Editor: Emmi Laine 

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Keywords: Central Parity Rate , CNY , USD , Foreign Exchange Market