SHANGHAI (XFN-ASIA) - The yuan finished over-the-counter (OTC) foreign exchange trading at a post-revaluation high of 7.9955 to the dollar, compared with yesterday's closing level of 7.9984, traders said.
The yuan ended at 7.9958 to the dollar earlier today on the exchange-traded market.
Today's central parity rate for the yuan was set at 8.0001 to the dollar.
The central bank has a yuan-dollar trading band of 0.3 pct on either side of the midpoint.
On Jan 4, China launched an OTC system in the interbank foreign exchange market, allowing two participants to make currency trades on credit without the intervention of a third party.
Previously, it relied exclusively on an automatic price-matching system, overseen by a centralized government trading center, called the exchange-traded market.
qionghui.feng@xinhuafinance.com
jqf/jmm/tr
The yuan ended at 7.9958 to the dollar earlier today on the exchange-traded market.
Today's central parity rate for the yuan was set at 8.0001 to the dollar.
The central bank has a yuan-dollar trading band of 0.3 pct on either side of the midpoint.
On Jan 4, China launched an OTC system in the interbank foreign exchange market, allowing two participants to make currency trades on credit without the intervention of a third party.
Previously, it relied exclusively on an automatic price-matching system, overseen by a centralized government trading center, called the exchange-traded market.
qionghui.feng@xinhuafinance.com
jqf/jmm/tr