Chinese yuan strengthens to new high against USD Monday

Source: Xinhua| 2018-01-08 12:51:32|Editor: Yamei
Video PlayerClose

BEIJING, Jan. 8 (Xinhua) -- The central parity rate of the Chinese currency, the renminbi or the yuan, strengthened to a new 20-month high against the U.S. dollar on Monday.

The rate strengthened 83 basis points to 6.4832 against the U.S. dollar Monday, according to the China Foreign Exchange Trade System.

This marks a new high since May 3, 2016, after the rate rallied to 6.4915 on Friday.

The currency's robust performance was the result of a weaker dollar, sound economic fundamentals, improved regulation of capital flows, a relatively tightened monetary environment and increased global use of the currency, said a report from Suning Commerce R&D Center.

"The RMB will continue to be stable in 2018 on the back of a stable foreign exchange policy of the central government," said the report.

A statement released after the Central Economic Work Conference in December reiterated that the yuan's exchange rate will be kept basically stable at a reasonable and balanced level in 2018.

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.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011103261368796581
国产无码在线观看免费在线,37pao国产成视频,日韩一区二区视频在线,国产国产人免费人成免费视频麻豆
亚洲欧美国产精品综合一区 | 日本一区二区三区免费精品 | 色综合久久综合国产精品 | 尹人香蕉久久99天天拍久女久 | 中文字幕高潮波多野结衣 | 日韩激情视频激情国产 |