SHANGHAI :
Yuan-Dollar Spot Rate Dips for Fourth Straight Day
Xu Wei
DATE:  Sep 14 2017
/ SOURCE:  Yicai
Yuan-Dollar Spot Rate Dips for Fourth Straight Day Yuan-Dollar Spot Rate Dips for Fourth Straight Day

(Yicai Global) Sept. 14 -- The yuan has softened against the dollar for four days now.

At 3:50 p.m., the dollar-yuan spot exchange rate shed 74 basis points to 6.5479 on onshore markets, while the rate was down 49 basis points to 6.5524 offshore.

The yuan-dollar central parity rate slipped 83 basis points to 6.5465 before the interbank market opened today.

Liquidity pressure seems to have reversed, with market forces driving the stronger yuan since mid-August, Goldman Sachs analysts noted.

PBOC slashed its purchase of foreign exchange reserves to zero, suggesting policymakers' eased concerns over cross-border capital flows and hinting at the possibility of their relaxing other capital control measures.

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Keywords:   CNY,CNH,Dollar