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PBOC Sets Yuan Parity At 6.2882 Against Dollar, Strongest Since Aug 2015

2018-2-7 11:40:19Basics of Trading
PBOC Sets Yuan Parity At 6.2882 Against Dollar, Strongest Since Aug 2015

The People's Bank of China set the yuan parity rate against the dollar at 6.2882 on Wednesday and the strongest since Aug. 11, 2015, and compared to the previous level of 6.3072.

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.