China Sets Yuan Central Parity Rate at 7.1029 Against US Dollar
The yuan’s central parity rate reaches its highest level since November 2024, with a 35-point increase from the previous day.
Summary
On September 8, China set the yuan’s central parity rate at 7.1029 against the US dollar, marking a 35-point increase from the previous day. This is the highest level for the yuan since November 6, 2024. As of September 9, the US dollar trades at 7.1189 against the offshore Chinese yuan, a 4.18% decline from the year-to-date high of 7.4295 on April 9.
Terms & Concepts
- Yuan Central Parity Rate: The official exchange rate set by the People's Bank of China (PBOC) for the yuan against the US dollar, which is used as a reference for currency conversion.