China News Service reported on May 9 that the central parity rate of the RMB exchange rate against the US dollar in the inter-bank foreign exchange market was set at 7.1028 yuan. This marks a decrease of 12 basis points compared to the previous rate.
In addition to the US dollar, the central parity rates for other major currencies against the RMB were also released. The exchange rate for 1 euro to RMB was 7.6639, 100 yen to RMB was 4.5939, 1 Hong Kong dollar to RMB was 0.90878, and 1 pound to RMB was 8.9103. The rates for other currencies such as the Australian dollar, New Zealand dollar, Singapore dollar, Swiss franc, and Canadian dollar were also provided.
This news comes amidst ongoing fluctuations in the global foreign exchange market and economic uncertainties. The People’s Bank of China continues to closely monitor and manage the RMB exchange rate to ensure stability and promote a healthy economic environment.
For more updates on foreign exchange rates and other related news, stay tuned to China News Service.