Date
20 July 2018

Central bank sets RMB midpoint firmer at 6.1406

The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1406 Monday, 52 pips stronger than the 6.1458 fixing on Friday, 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 0.08 percent to 6.1206 on Friday after trading between 6.1113 and 6.1206 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.36 percent this year, central bank data shows.

– Contact HKEJ at [email protected]

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