PBOC Strengthens Yuan-Dollar Parity Rate by 257 Bips at 7.0742
Liao Shumin
DATE:  Mar 25 2020
/ SOURCE:  yicai

(Yicai Global) March 25 -- The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under China's central bank, set the yuan parity rate against the US dollar at 7.0742, 257 basis points stronger for the redback than yesterday in the largest decrease in 22 days.

CFETS fixes the benchmark parity rate on the morning of each business day. Spot rates may fluctuate 2 percent above or below its figure.

Editor: Ben Armour

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Keywords:   China's Yuan