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Counter-cyclical Factor Fades out for Quotation of Central Parity of USD/ RMB
China Foreign Exchange Trade System (CFETS) said the foreign exchange market in China has been running swimmingly year-to-date. While the international expenditure and income tende...
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Counter-cyclical Factor Fades out for Quotation of Central Parity of USD/ RMB
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2020/10/28 07:56
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China Foreign Exchange Trade System (CFETS) said the foreign exchange market in China has been running swimmingly year-to-date. While the international expenditure and income tended to be balanced, the RMB exchange rate based on market demand and supply showed higher flexibility.

It was known that the PBOC has actively called off the counter-cyclical factor in its daily yuan midpoint fixing against the greenback. Such adjustment was deemed to be salubrious to the transparency, benchmarking and effectiveness of the central parity quotation.
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