PBOC units yuan parity towards greenback at 6.5630, a tad weaker

Yuan parity set weaker

Investing.com – The yuan’s central parity rate against the U.S. dollar was set at 6.5630 Wednesday, slightly weaker than Tuesday’s 6.5628, the People’s Bank of China said.

On July 21, 2005, China freed the yuan from its longstanding peg to the dollar in favor of a managed float with reference to a basket of currencies.

From March 17, 2014, the yuan is allowed to move 2% either side of the daily fixing against the dollar.

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PBOC units yuan parity towards greenback at 6.5630, a tad weaker