PBOC sets Yuan midpoint lower again, 6.4626 Wed vs. 6.4559

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 16, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Mumbai) - On Wednesday, the Chinese central bank, PBOC, sets USD/CNY midpoint at 6.4626 compared to 6.4559 Tuesday’s close, weakest since July 2011.

    The central bank said on Friday that it had begun publishing a yuan exchange rate weighted against a basket of currencies, a move that will eventually loosen the Chinese currency's link to the greenback and that will let the yuan weaken further.

    Meanwhile, China Shanghai Composite index opens up 0.33% at 3522.09.
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