皇冠体育app

(CRI English/AFX)
Updated: 2008-02-19 13:34

The central bank has set the yuan central parity rate at a record 7.1574 to the dollar, according to the 皇冠体育app Foreign Exchange Trading System.

The rate, published on the official 皇冠体育appmoney website, compares with the midpoint of 7.1667 set the previous trading day.

The People's Bank of 皇冠体育app (PBoC) started setting a daily central parity rate on January 4, 2006.

On July 21, 2005, 皇冠体育app freed the yuan from its long-standing peg to the dollar in favor of a trade-weighted basket of currencies, and allowed the local unit to appreciate by 2.1 percent. The PBoC allows a trading band of 0.5 percent on either side of the central parity rate.