Latest news with #ChinaForeignExchangeTradeSystem
BusinessToday
4 days ago
- Business
- BusinessToday
Yuan's Performance Against Major Currencies
The China Foreign Exchange Trade System announced the central parity rates of the Chinese currency, the renminbi, against 25 major currencies for Monday. The U.S. dollar was set at a central parity rate of 713.95 yuan per 100 units, while the Euro was valued at 826.95 yuan for the same amount. The central parity rate serves as a benchmark for daily trading in China's interbank foreign exchange market. Here is a full breakdown of the rates against 25 major currencies: Currency Units Central Parity Rate (Yuan) U.S. dollar 100 713.95 Euro 100 826.95 Japanese yen 100 4.8576 Hong Kong dollar 100 90.952 British pound 100 949.19 Australian dollar 100 462.20 New Zealand dollar 100 422.50 Singapore dollar 100 554.75 Swiss franc 100 888.52 Canadian dollar 100 518.90 Pataca 100 88.26 Malaysian ringgit 100 167.71 Ruble 100 9.00 Rand 100 39.66 Korean won 100 0.52 UAE dirham 100 194.69 Saudi riyal 100 190.66 Hungarian forint 100 2.08 Polish zloty 100 194.11 Danish krone 100 110.83 Swedish krona 100 74.07 Norwegian krone 100 69.70 Turkish lira 100 17.59 Mexican peso 100 37.89 Thai baht 100 22.04 The central parity rates are not all calculated in the same way. The rate against the U.S. dollar is determined by a weighted average of prices submitted by market makers before the start of each business day's interbank market. The rates for the Hong Kong dollar and Pataca are derived from other central parity rates. The Hong Kong dollar's rate is based on the yuan's rate against the U.S. dollar and the Hong Kong dollar's exchange rate against the U.S. dollar in international markets. The Pataca's rate is then calculated using the yuan's rate against the Hong Kong dollar. For the remaining 22 currencies, the central parity rates are determined based on the average prices offered by market makers in the interbank foreign exchange market before the opening.
Nikkei Asia
23-06-2025
- Business
- Nikkei Asia
Yuan's quiet sell-off seen helping grow exports beyond US
A bank employee in Thailand counts yuan notes. The yuan has weakened against Southeast Asian currencies while remaining steady against the dollar. © Reuters TOSHIHIRO SATO TOKYO --The yuan has weakened against a wide range of global currencies, except the dollar, in a sign that Beijing may be trying to boost its export competitiveness with trade partners other than the U.S. The China Foreign Exchange Trade System's yuan index, administered by the People's Bank of China, dropped to 95.49 on June 13, the lowest level since December 2020. As of Friday, it had recovered only to 95.92.
Bloomberg
12-06-2025
- Business
- Bloomberg
China's Cheap Funding Breathes Life Into Leveraged Bond Trades
China's efforts to support the economy by keeping funding costs low are increasing lending among banks, in a sign they may be borrowing cheaply to buy bonds for a profit. The daily volume of overnight repurchase contracts, a popular funding tool for such leveraged bond purchases among financial institutions, rose to the highest since December on Wednesday, according to China Foreign Exchange Trade System data.
Ammon
25-03-2025
- Business
- Ammon
Chinese yuan weakens to 7.1788 against USD
Ammon News - The central parity rate of the Chinese currency renminbi, or the yuan, weakened 8 pips to 7.1788 against the U.S. dollar Tuesday, according to the China Foreign Exchange Trade System. 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. Xinhua
