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Chinese Yuan Weakens Slightly in the Morning
Tang Shihua
DATE:  Apr 10 2019
/ SOURCE:  yicai

(Yicai Global) April 10 -- The Chinese yuan started the morning a tad softer against the US dollar.

The onshore yuan-dollar  spot rate opened at 6.7134, 14 bips weaker than yesterday's close. The  offshore spot exchange rate was 6.7222 in the morning.

The People's Bank of China set the central parity rate between the two currencies at 6.7110 today, which means a 32 basis points stronger standing for the redback in comparison to yesterday.  

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  significant appreciation coinciding with the start of US-China trade  talks that were kicked off again in December during a ceasefire. 

Editor: Emmi Laine 

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