Yuan-Dollar Central Parity Rate Is on Downward Trajectory for Three Consecutive Days
Xu Wei
/SOURCE : Yicai
Yuan-Dollar Central Parity Rate Is on Downward Trajectory for Three Consecutive Days

(Yicai Global) Oct. 25 -- The central parity rate of the yuan (CNY) against the dollar (USD) dropped 54 basis points before the opening of the interbank market today, continuing its downward trend for three days in a row now.

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 6.6322 against the dollar, compared with yesterday's official close of 6.6332.

The onshore spot exchange rate of the yuan against the dollar fell to 6.6330 at the close of night trading yesterday, while the offshore spot exchange rate climbed to 6.6381 from 6.6353 at 16:30 China Standard Time (CST).

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Keywords: Central Parity Rate , Onshore Yuan , CNY , Offshore , CNH , US Dollar , Foreign Curency