PBOC Stiffens Yuan-Dollar Central Parity Rate by 48 Bips to 7.0865
Dou Shicong
DATE:  Jun 22 2020
/ SOURCE:  Yicai
PBOC Stiffens Yuan-Dollar Central Parity Rate by 48 Bips to 7.0865 PBOC Stiffens Yuan-Dollar Central Parity Rate by 48 Bips to 7.0865

(Yicai Global) June 22 -- The People's Bank of China bolstered the yuan by 48 basis points against the dollar this morning, fixing the central parity rate at 7.0865.

The onshore yuan market closed at 7.0780 on the last trading day, appreciating 32 basis points.

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,Central Parity Rate