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PBOC Sets Yuan Parity At 6.3001 Against Dollar

2/12/2018, 10:45:44 AMBasics of Trading
PBOC Sets Yuan Parity At 6.3001 Against Dollar

The People's Bank of China set the yuan parity rate against the dollar at 6.3001 on Monday, compared to 6.3194 previously.

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.