xinhua silk road logo xinhua silk road logo
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

maritime silk road search
data

Chinese yuan strengthens to 6.7560 against USD Monday

January 14, 2019


Abstract : The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 349 basis points to 6.7560 against the U.S. dollar Monday, according to the China Foreign Exchange Trade System.

BEIJING, Jan. 14 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 349 basis points to 6.7560 against the U.S. dollar Monday, according to the China Foreign Exchange Trade System.

The new rate was the strongest since July 19, 2018, according to data from the system.

Since the beginning of this year, the yuan's central parity rate has strengthened more than 1.5 percent against the dollar.

Zhao Qingming, chief economist of the derivatives institute of the China Financial Futures Exchange, attributed the strength partly to a weaker dollar during the period.

"In 2019, the yuan will not see high depreciation pressure and the rate is unlikely to go beyond the 7-yuan-per-dollar mark," Zhao said, adding that the exchange rate will be relatively stable and show two-way fluctuation within a wide range.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial