Yuan-Dollar Central Parity Rate PBOC Set Decreased 108 points
Xu Wei
/SOURCE : Yicai
Yuan-Dollar Central Parity Rate PBOC Set Decreased 108 points

(Yicai Global) Oct 17 -- The central parity rate of the yuan (CNY) against the US dollar (USD) was down 108 basis points before the opening of the interbank market on October 18.

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 6.5991 against the dollar, compared with the official close of 6.6160 yesterday.

The onshore spot exchange rates of the yuan against the dollar fell to 6.6250 at the close of night trading yesterday; while the offshore spot exchange rates of the yuan against the dollar fell to 6.6137.

The yuan exchange rate was relatively stable recently, and the rate was driven by the market forces, the central bank had basically withdrawn from the normal intervention, Pan Gongsheng, director of the State Administration of Foreign Exchange of China, said on October 18.

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