SHANGHAI :
PBOC Braces Yuan to Over 280-Month Peak
Xu Wei
DATE:  Nov 10 2020
/ SOURCE:  Yicai
PBOC Braces Yuan to Over 280-Month Peak PBOC Braces Yuan to Over 280-Month Peak

(Yicai Global) Nov. 10 -- The People's Bank of China set the yuan stronger against the US dollar this morning, fixing the central parity rate at 6.5897 in a new high since June 27, 2018 and 226 bips more than yesterday.

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

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Keywords:   PBOC,USD,CNY,central parity rate