PBOC Weakens Yuan by 77 Bips to 6.8580 a Dollar
Dou Shicong
DATE:  Jun 25 2019
/ SOURCE:  yicai

(Yicai Global) June 25 -- The People's Bank of China weakened the yuan by 77 basis points against the dollar this morning, fixing the central parity rate at 6.8580, or 208 basis points lower than yesterday's market-based close of 6.8788. A lower rate means a stronger yuan.

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 the figure.

Editor: James Boynton

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Keywords:   PBOC,Central Parity Rate