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PBOC Sets Yuan Parity At 6.2885 Against Dollar, Strongest Since Ag 2015

2018-2-2 11:09:50Basics of Trading
PBOC Sets Yuan Parity At 6.2885 Against Dollar, Strongest Since Ag 2015

The People's Bank of China set the yuan mid-point at 6.2885 against the dollar on Friday at the strongest level since August 2015, and compared to the previous close of 6.2965.

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