RTTN:PBoC Sets Yuan Parity Rate Against Australian And Canadian Dollars
(RTTNews) - The People's Bank of China kicked off yuan's trading against the Australian and Canadian dollars on Monday in the country's onshore forex market.
The People's Bank of China set today's central parity rate for the yuan at 6.2491 to the Australian dollar and 6.1048 to the Canadian dollar.
The yuan is allowed to strengthen or weaken 3 percent versus the two currencies from the central bank's mid-point each day, according to an exchange announcement last Thursday.
Trading in these two new currency pairs comes after the China Foreign Exchange Trade System began yuan trading against the rouble in November 2010.
