Date
19 October 2018

Central bank sets RMB midpoint firmer at 6.1330

The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1330 Wednesday, 65 pips stronger than the 6.1395 fixing on Tuesday, 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 0.02 percent to 6.0935 on Tuesday after trading between 6.0917 and 6.0958 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.49 percent this year, central bank data shows.

– Contact HKEJ at [email protected]

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