PBoC sets daily RMB fix at four-year low

dollar-and-renminbi-rolls

China's central bank cut its daily renminbi ‘fix' to a four-year low today (August 27) – though the country's premier has insisted there is "no basis" for further depreciation of the currency.

The People's Bank of China (PBoC) set the midpoint value around which the renminbi is allowed to fluctuate by +/-2% against the US dollar at 6.41 today (August 27), the lowest level since 2011.

The PBoC changed the way it sets the currency fix in a surprise move on August 11 that prompted the renminbi to

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: