Yuan-Dollar Central Parity Rate Strengthens 432 Basis Points

Yuan-Dollar Central Parity Rate Strengthens 432 Basis Points

Liao Shumin

Date: Wed, 10/11/2017 - 11:06 / Keywords: Central Parity Rate, CNY, CNH
Yuan-Dollar Central Parity Rate Strengthens 432 Basis Points
Yuan-Dollar Central Parity Rate Strengthens 432 Basis Points

(Yicai Global) Oct. 10 -- The central parity rate of the yuan against the dollar set by PBOC firmed up 432 basis points before today’s opening of the interbank market.

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 6.5841 against the dollar, compared with yesterday’s official close of 6.5861.

The onshore spot exchange rates of the yuan against the dollar rose to 6.5717 at the close of night trading yesterday, while the offshore rate rose to 6.5632. Both onshore and off shore rate broke multiple thresholds and hit new highs since Sept. 22nd.

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Keywords: Central Parity Rate, CNY, CNH