Investing.com – The People’s Bank of China set the yuan parity rate against the dollar at 6.5043 on Thursday, compared to the previous close of 6.5005.
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, , as a key touchstone for sentiment in the near term.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Latest posts by investing.com (see all)
- Forex – Sterling Falls Below 1.30 for First Time in 10 Months - July 20, 2018
- Forex – Dollar Hits 1-Year Highs, Euro Falls below $1.16 - July 19, 2018
- Firmer U.S. dollar boosts corporate interest in currency hedging - July 19, 2018