21 February 2019

Central bank sets RMB midpoint firmer at 6.1415

The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1415 on Tuesday, 65 pips stronger than the 6.1480 fixing on Sept. 30, the last trading day before the week-long National Day holiday, according to the China Foreign Exchange Trade System. That is a fresh record high for the Chinese unit’s daily central parity rate against the greenback since the peg ended in 2005. The renminbi is allowed to rise or fall 1 percent from the daily reference rate. Spot renminbi eased 0.03 percent to 6.1220 on Sept. 30 after trading between 6.1182 and 6.1220 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.34 percent this year, central bank data shows.

– Contact HKEJ at [email protected]



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