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
Macro-economy

Chinese yuan weakens to 6.8998 against USD Monday

March 20, 2017


Abstract : The central parity rate of the Chinese currency, the renminbi or the yuan, weakened on Monday as investors digested the U.S. Federal Reserve's latest decision to raise interest rates.

BEIJING, March 20 (Xinhua) -- The central parity rate of the Chinese currency, the renminbi or the yuan, weakened on Monday as investors digested the U.S. Federal Reserve's latest decision to raise interest rates.

The central parity rate of the Chinese yuan weakened 125 basis points to 6.8998 against the U.S. dollar Monday, according to the China Foreign Exchange Trade System.

The U.S. central bank on Wednesday raised interest rates for the third time since the 2008 global financial crisis, with the job market strengthening and inflation rising toward its target.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

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.

Scan the QR code and push it to your mobile phone

Keyword: China RMB-USD

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

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