20 June 2019

Central bank sets RMB midpoint firmer at 6.1232

The People’s Bank of China set the renminbi’s daily midpoint against the US dollar at 6.1232 on Friday, 78 pips stronger than the 6.1310 fixing on Thursday, according to the China Foreign Exchange Trade System. That is a 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 was 6.0913 on Thursday after trading between 6.0911 and 6.0920 in Shanghai. The redback’s daily midpoint against the US dollar has risen 2.65 percent this year, central bank data shows.

– Contact HKEJ at [email protected]



EJI Weekly Newsletter

Please click here to unsubscribe