花辨直播官方版_花辨直播平台官方app下载_花辨直播免费版app下载

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Chinese yuan strengthens to 6.6601 against US dollar Monday

Xinhua | Updated: 2017-08-14 14:18
BEIJING - The Chinese currency strengthened against the US dollar for the fifth straight working day on Monday to its highest level since September last year.

The central parity rate of the Chinese currency, the renminbi or the yuan, strengthened 41 basis points to 6.6601 against the US dollar Monday, according to the China Foreign Exchange Trade System.

The dollar was weighed down by weak US inflation data which dampened prospects of another Federal Reserve interest rate hike later this year.

Friday's data showed the US consumer price index edged up just 0.1 percent last month after it was unchanged in June.

Meanwhile, China's economy continued its steady expansion in the first half of this year with GDP up 6.9 percent, supporting the Chinese currency.

"The renminbi, despite moving closer to the level consistent with overall assessment, remained broadly in line with fundamentals and desirable policies," said the IMF in its latest External Sector Report released last month.

China's policies put in place to stabilize growth have led to recent appreciation of the RMB and helped ease capital outflows and foreign exchange reserve loss, according to the IMF.

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 US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US