CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the High risk of losing your money.

PBOC sets yuan parity at 6.7415 vs dollar

7/21/2017, 11:28:50 AMBasics of Trading
PBOC sets yuan parity at 6.7415 vs dollar

The People's Bank of China set the yuan mid-point at 6.7415 against the dollar on Friday, compared to the previous close of 6.7580.

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.

Market watchers see a yuan level of 7 against the dollar, USD/CNY, as a key touchstone for sentiment in the near term.