PBOC Bolsters Yuan by 142 Bips to 6.9943, Its Strongest in Four Months(Yicai Global) July 10 -- The People's Bank of China strengthened the yuan by 142 basis points against the US dollar this morning, fixing the central parity rate at 6.9943 to its strongest position since March 13.
The central parity rate of the redback against the greenback appreciated 720 bps this week.
The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under the central bank, sets the benchmark on the morning of each business day. Spot rates may deviate 2 percent above or below its figure.
Editor: Ben Armour
