SHANGHAI :
PBOC Strengthened Yuan by 280 Bips This Month
Zhang Yushuo
DATE:  Apr 30 2020
/ SOURCE:  Yicai

(Yicai Global) April 30 -- China's central bank set the yuan’s central parity rate against the US dollar at 7.0571 this morning, strengthening the redback by 133 basis points from yesterday. The PBOC has made the renminbi 280 bips firmer this month.

The Chinese Foreign Exchange Trade System, the interbank trading and foreign exchange division under China’s central bank, fixes the benchmark parity rate on the morning of each business day. Spot rates may deviate 2 percent above or below the figure during that day.

Editor: Emmi Laine

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Keywords:   currency exchange rate