China Sets New Yuan Exchange Rates
Dollar, Euro & Major Currencies Shift Against Beijing’s Daily Fix
China Releases Yuan Exchange Rates Against Major Global Currencies
Beijing, Aug. 19 – The China Foreign Exchange Trade System (CFETS) on Tuesday published the daily central parity rates of the Chinese yuan (RMB) against 25 key international currencies.
According to the official update, the yuan was set at 713.59 per 100 U.S. dollars and 834.27 per 100 euros. Against the Japanese yen, the rate stood at 4.8391 for 100 units, while the British pound was fixed at 966.20 per 100 units.
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Other notable rates included:
Hong Kong dollar: 91.247 per 100
Australian dollar: 464.62 per 100
New Zealand dollar: 424.26 per 100
Singapore dollar: 556.92 per 100
Swiss franc: 885.61 per 100
Canadian dollar: 518.35 per 100
For regional currencies, the yuan was valued at 112.94 against the Macao pataca, 59.042 per 100 Malaysian ringgit, 1,119.50 per 100 Russian rubles, 246.58 per 100 South African rand, and 19,379 per 100 Korean won.
Among Middle Eastern currencies, the yuan stood at 51.322 against the UAE dirham and 52.433 against the Saudi riyal. For European units, it was quoted at 4,732.69 per 100 Hungarian forint, 50.922 per 100 Polish zloty, 89.47 per 100 Danish krone, 133.60 per 100 Swedish krona, and 142.49 per 100 Norwegian krone.
Meanwhile, the yuan’s rate against other major emerging market currencies included 571.028 per 100 Turkish lira, 262.73 per 100 Mexican peso, and 453.51 per 100 Thai baht.
The yuan-dollar parity rate is determined using a weighted average of quotes from market makers before the interbank market opens each day. The yuan’s exchange rate with the Hong Kong dollar and Macao pataca is derived from the yuan-dollar parity combined with the prevailing market rates of those currencies against the U.S. dollar. For the remaining currencies, the CFETS calculates parity rates based on average offers from market participants.
This mechanism provides a daily benchmark for international trade, cross-border payments, and financial markets, highlighting Beijing’s ongoing role in stabilizing currency operations amid global economic fluctuations.
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