China set its yuan central parity at 6.7180 per U.S. dollar for Friday, a slightly stronger official reference that anchors the daily interbank trading range.
The China Foreign Exchange Trade System (CFETS) published the rate under authorization from the People’s Bank of China (PBOC). It was 0.0015 yuan below Thursday’s 6.7195 fixing. Since USD/CNY is quoted in yuan per dollar, the lower figure represents a stronger yuan reference. Friday’s rate was also below the 6.7192 midpoint set Oct. 21, covered in EconoTimes’ earlier report on the yuan fixing.
Under CFETS rules, the daily interbank USD/CNY spot rate has a permitted margin of 2% on either side of the central parity. The midpoint is a session reference; the price formed through spot-market trading can differ from it.
CFETS calculates the parity using weighted market-maker submissions. The inputs include the previous session’s close, foreign-exchange supply and demand, and moves in major currencies; the system removes the highest and lowest offers before calculating the result.
Reuters reported Thursday that market participants viewed the PBOC’s daily guidance as a way to manage the pace of the yuan’s rise. Its report also said the currency had reached a dollar level last recorded more than four years earlier, as the U.S. currency weakened broadly.
