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Yuan official exchange rate reaches 14 months high
Finance
- 31 August, 2017
- 13:08
Baku. 31 August. REPORT.AZ/ The People's Bank of China (PBOC) has increased exchange rate of yuan against US-dollar by 92 basis points up to 6,6010 CNY/USD.
Report informs citing the Gazeta.ru, it is the maximum value since June 24, 2016.
Notably, growth in the amplitude of fluctuations in value of the Chinese currency against US dollar began after the authorities launched a reform of the mechanism for the formation of exchange rate of currencies.
At the end of 2015, yuan was devalued against dollar by 6%. In 2016, the rate to the US currency fell by another 6.7% and updated several minimum values for 8.5 years.
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