China's foreign exchange trading system, CFETS, reported that the yuan's central parity rate strengthened by 0.0028 yuan today to 6.7670 per US dollar. Xinhua News Agency reported that in China's foreign exchange market, the yuan is allowed to rise or fall by no more than 2% from the central parity rate for each trading day. The yuan's central parity rate against the US dollar is based on a weighted average price before the interbank market opens for trading each day.
China sets the yuan's central parity stronger at 6.7670 per dollar, a policy-driven FX move favoring the yuan.
