China yuan central parity rate set at record 6.8230 to dollar vs 6.8266
BEIJING, Jul 15, 2008 (XFN-ASIA via COMTEX) --
By Staff Reporter
The central bank has set the yuan central parity rate at a
record 6.8230 to the dollar, according to the China Foreign Exchange Trading
System.
The rate, published on the official Chinamoney website (www.chinamoney.com.cn),
compares with the midpoint of 6.8266 set the previous trading day.
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.
susan.wang@xfn.com
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