China Raises Yuan Midpoint 41 Bps to 6.8109 per Dollar
Updated
Updated · AASTOCKS.com · Jun 12
China Raises Yuan Midpoint 41 Bps to 6.8109 per Dollar
3 articles · Updated · AASTOCKS.com · Jun 12
Summary
6.8109 per dollar was set as Friday's RMB central parity rate, up 41 basis points from the previous fixing, according to the China Foreign Exchange Trade System.
The higher midpoint strengthens the yuan's official reference rate against the dollar and sets the center of the currency's daily onshore trading band.
The fixing is closely watched as a policy signal from Beijing because it reflects how authorities are balancing exchange-rate management with broader financial stability goals.
Friday's level came after an earlier market expectation that the PBOC would set the USD/CNY reference rate at 6.7640.