PBOC Sets Yuan Parity At 6.4372 Against Dollar, Strongest Since Dec 2015
The People's Bank of China set the yuan parity rate against the dollar at 6.4372 on Tuesday, the strongest since Dec. 11, 2015.
The China Foreign Exchange Trade System sets the weighted average of prices given by market makers. The highest and lowest offers are excluded from the calculation. The central bank allows the dollar/yuan rate to move no more than 2% above or below the central parity rate