PBOC Strengthens Yuan by 21 Bips to 7.0433 a Dollar
Tang Shihua
DATE:  Aug 21 2019
/ SOURCE:  yicai

(Yicai Global) Aug. 21 -- The People's Bank of China fixed the yuan-dollar central parity rate at 7.0433 this morning, some 21 basis points stronger than the redback's 11-year nadir yesterday.

The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under the 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, with a lower rate meaning a stronger yuan.

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Keywords:   Central Parity Rate,Foreign Exchange Market,CNY,USD,PBOC