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ReturnChina:China yuan central parity rate set at record 7.6195 to US dollar vs 7.6213
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admin
PublishDate：
2007-06-19 16:54:00
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Beijing: The central bank has set the yuan central parity rate at a record 7.6195 to the dollar, according to the China Foreign Exchange Trading System.
The People's Bank of China (PBoC) started setting a daily central parity rate on Jan 4, 2006.
On July 21, 2005, China freed the yuan from its long-standing peg to the dollar in favor of a trade-weighted basket of currencies, and allowed the local unit to appreciate by 2.1 pct. The PBoC allows a trading band of 0.5 pct on either side of the central parity rate.
Source: Forbes News
The People's Bank of China (PBoC) started setting a daily central parity rate on Jan 4, 2006.
On July 21, 2005, China freed the yuan from its long-standing peg to the dollar in favor of a trade-weighted basket of currencies, and allowed the local unit to appreciate by 2.1 pct. The PBoC allows a trading band of 0.5 pct on either side of the central parity rate.
Source: Forbes News
