16 Dec 2015
PBOC sets Yuan midpoint lower again, 6.4626 Wed vs. 6.4559
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.
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.