PBOC Strengthens Yuan by 54 Bips Against Dollar
Yicai Global | Xu Wei
DATE:  Dec 18 2018
/ SOURCE:  yicai

(Yicai Global) Dec. 18 -- The People's Bank of China lowered the yuan-dollar central parity rate by 54 basis points this morning, strengthening the Chinese currency against the greenback.

The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under the central bank, fixed the yuan at 6.8854 against the greenback, 150 basis points stronger than the closing price of 6.9004 yesterday.

The CFETS sets the benchmark on the morning of each business day. Spot rates may deviate 2 percent above or below the figure.

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