SHANGHAI :
PBOC Ratchets Yuan Up by 167 Bips to 6.6895
Xu Wei
DATE:  Nov 09 2020
/ SOURCE:  Yicai
PBOC Ratchets Yuan Up by 167 Bips to 6.6895 PBOC Ratchets Yuan Up by 167 Bips to 6.6895

(Yicai Global) Nov. 9 -- The People's Bank of China set the yuan stronger against the US dollar this morning, fixing the central parity rate at 6.6123, thus causing the redback to appreciate 167 bips from its value on Nov. 7.

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:   USD,CNY,People's Bank of China