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FX Talk: USD/CNY ends tad down while fixing breaches 6.17 level

2013-06-08 GMT+8:00

BEIJING, June 7 (Xinhua) --China's onshore yuan (CNY) rose slightly against the US dollar on Friday even after the People's Bank of China set the central parity rate at a new record low prior to market open.

The USD/CNY finished at 6.1335 on Friday, slightly lower than 6.1362 on Thursday, as market players noted investors' appetite for dollars strengthened.

Traders said the appreciation pressure appears to have weakened in recent days as capital inflows slow amid a crackdown on hot money and a wider retreat from riskier assets by investors in global markets.

The PBOC, the central bank, set the USD/CNY central parity rate at a record low of 6.1620 on Friday, sharply lower than 6.1737 on Thursday. Under current rules, the spot USD/CNY exchange rate is allowed to move up to 1 percent on either side of the central parity rate in each trading session.

The US dollar index which tracks the greenback against a basket of six other major currencies was at 81.56 in late East Asia trading hours on Friday, steady from 81.53 in late North American trade Thursday.

The following chart shows the spot price and trading volume of the CNY against the USD on the OTC market on Friday, according to the China Foreign Exchange Trade System. 


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