Date
23 October 2017

Central bank sets RMB midpoint firmer at 6.1315

The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1315 on Thursday, 27 pips stronger than the 6.1342 fixing on Wednesday, 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 0.01 percent at 6.0928 on Wednesday after trading between 6.0871 and 6.0936 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.51 percent this year, central bank data shows.

– Contact HKEJ at [email protected]

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