PBOC Sets Yuan Parity At 6.6092 Against Dollar
Investing.com - The People's Bank of China set the yuan parity rate against the dollar at 6.6092 on Friday, compared to the previous close of 6.6170.
The China Foreign Exchange Trade System sets the weighted average of prices given by market makers. The highest and lowest offers are excluded from the calculation. The central bank allows the dollar/yuan rate to move no more than 2% above or below the central parity rate.
Market watchers see a yuan level of 7 against the dollar, USD/CNY, as a key touchstone for sentiment in the near term.
Related Articles
Forex - PBOC Sets Yuan Parity At 6.6092 Against Dollar
Forex - Dollar Up Slightly On Yen, Trump Fed Pick Eyed
Dollar Drops on Reports Fed Governor Powell Leading Race to Replace Yellen