SHANGHAI :
Yuan-Dollar Central Parity Rate Set by PBOC Firms Up 42 Points, Ends Three-Day Slide
Xu Wei
DATE:  Sep 15 2017
/ SOURCE:  Yicai
Yuan-Dollar Central Parity Rate Set by PBOC Firms Up 42 Points, Ends Three-Day Slide Yuan-Dollar Central Parity Rate Set by PBOC Firms Up 42 Points, Ends Three-Day Slide

(Yicai Global) Sept. 15 -- The yuan-dollar central parity rate nosed up 42 basis points before the interbank market opened today, ending its depreciation over three straight days.

The China Foreign Exchange Trade System (CFETS), the interbank trading and foreign exchange division of China's central bank, the People's Bank of China (PBOC), set the yuan central parity rate at 6.5423 against the dollar, as against the official close of 6.5543 yesterday.

The yuan-dollar onshore spot exchange rate fell to 6.5540 at the close of night trading yesterday, while the offshore rate fell to 6.5575.

The dollar index stiffened 0.065 points to 92.132 at 9.22 a.m. today.

Though the Fed might start to cut the size of the balance sheet this month, if the US fails to make substantial progress in tax reform, the greenback will have scant prospects of a significant rise this year. The yuan exchange rate is expected to fluctuate within 6.50 to 6.60 by the end of this year, pundits predicted.

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Keywords:   Central Parity Rate,CNY,CNH