(Yicai Global) Dec. 4 -- China's central bank, the People's Bank of China (PBOC), cut the yuan-dollar central parity rate by 38 basis points today. The bank has now cut the rate for six straight trading days, lopping an accumulated 295 basis points from 6.5810 on Nov. 24.
The China Foreign Exchange Trade System (CFETS), PBOC's interbank trading and foreign exchange division, set the yuan central parity rate at 6.6105 against the dollar, compared with 6.6067 of last Friday.
The onshore yuan-dollar spot exchange rate officially closed at 6.6065 on Friday and was at 6.6206 when night trading closed.
The offshore spot exchange rate was 6.6115 as of 9:20 am today.