Yuan-USD parity rate ends 1yr lows
The central parity rate of the Chinese yuan against the US dollar was 6.8431 on Tuesday, advancing by 82 basis points and ended the lows recorded for more than a year.
This reversed the currency’s downward trend on Monday and last Friday, which saw a respective loss of 191 and 380 basis points.
At around 7:45pm on Tuesday, China’s offshore yuan strengthened against the greenback above 6.83, rising over 500 basis points from the day’s low of the day.
A little earlier, the onshore yuan also rose to 6.83 against the dollar, jumping nearly 300 basis points within the day. At 11:30pm, the onshore yuan closed at 6.8332, up 198 basis points from the end of Monday’s night session. The surge came after reports the People’s Bank of China called for major banks to fend off further currency volatility.
The central bank is confident of maintaining the yuan’s stability. The PBOC said it will seek to keep the flexible exchange rate system and two-way floating regime “unchanged.”
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.