SteelOrbis Shanghai
The RMB has gained further ground against the US dollar in line with the weakening of the latter currency on the international foreign exchange markets. According to the figures released by the China Foreign Exchange Trading Center on June 17, the central parity rate of the RMB against the US dollar reached 6.8919, 109 basis points higher than on the previous trading day.
The Chinese currency has to date registered a 17.67 percent appreciation rate against the US dollar since the exchange rate reform in 2005. The YTD appreciation rate of the RMB against the dollar is 5.99 percent, whereas the appreciation rate as of the start of May has reached 1.57 percent.
As issued by the China Foreign Exchange Trading Center authorized by the People's Bank of China, the central parity rates of the RMB on June 17 against the principal foreign currencies in the Interbank Foreign Exchange Market are as follows: US$1 = RMB 6.8919, €1 = RMB 10.6580, Yen 1 = RMB 6.3661, 1 Hong Kong dollar = RMB 0.88245, and ￡1 = RMB 13.5229.