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PBOC Fixes Yuan Strongest Against Dollar in 19 Months
2020-10-19
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Oct 19(LTIT) –The People's Bank of China set the yuan at its firmest point against the US dollar since March 2019 this morning. The PBOC fixed the central parity rate at 6.7010, 322 bips stronger for the redback from the previous trading day's 6.7332. The China Foreign Exchange Trade System, the interbank trading and foreign exchange division under the central bank, sets the benchmark on the morning of each business day. Spot rates may deviate 2 percent above or below the figure. |
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