SHANGHAI :
PBOC Weakens Yuan by 147 Bips From Firmest Midpoint in Over Two Years
Tang Shihua
DATE:  Oct 23 2020
/ SOURCE:  Yicai
PBOC Weakens Yuan by 147 Bips From Firmest Midpoint in Over Two Years PBOC Weakens Yuan by 147 Bips From Firmest Midpoint in Over Two Years

(Yicai Global) Oct. 23 -- The People's Bank of China weakened the yuan against the US dollar this morning, fixing the central parity rate at 6.6703, 147 bips weaker from yesterday's strongest central parity rate for the redback since July 2018.

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: Emmi Laine

 

 

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