The central parity of RMB against EUR, JPY, GBP, AUD, NZD, SGD, CHF, CAD, MYR, RUB, ZAR, KRW, AED, SAR, HUF, PLN, DKK, SEK, NOK, TRY, MXN and THB are determined in the following way: the CFETS enquires prices from market makers for EUR, JPY, GBP, AUD, NZD, SGD, CHF, CAD, MYR, RUB, ZAR, KRW, AED, SAR, HUF, PLN, DKK, SEK, NOK, TRY, MXN and THB respectively before the opening of the foreign exchange market on each business day,and excludes the highest and lowest offers, and then calculates the average of the remaining prices as the central parity of RMB against EUR, JPY, GBP, AUD, NZD, SGD, CHF, CAD, MYR, RUB, ZAR, KRW, AED, SAR, HUF, PLN, DKK, SEK, NOK, TRY, MXN and THB for the day. The central parity of RMB against HKD is calculated by counting the cross rates between the RMB central parity and the exchange rates of USD against HKD quoted at international FX market at 9:00 am, respectively. The weights are determined by the CFETS in line with the transaction volumes of the respective market makers in the market as well as other indicators such as the performance of market-making. CFETS excludes the highest and lowest offers, and then calculates the weighted average of the remaining prices in the sample as the central parity of RMB against USD for the day. Market makers should refer to the closing rate of the inter-bank foreign exchange market on the previous day, in conjunction with demand and supply condition in the foreign exchange market and exchange rate movement of the major currencies. The central parity of RMB against USD is determined in the following way: The CFETS first enquires prices from all market makers before the opening of the market on each business day. Global-rates.The CFETS, authorized by the PBC, calculates and publishes the central parity of RMB against USD and other major foreign currencies on each business day. For more information and our disclaimer, click here.Īll central banks interest rates, click here In order to be able to show the data on this page, we make use of a large number of sources of information that we believe to be reliable. Summary of other central banks’ interest rates central bank interest rate Tables - current and historic Chinese central bank interest rates PBC latest interest rate changes change date This page shows the current and historic values of the central bank base interest rate of the Chinese central bank.įor a summary of the current interest rates of a large number of central banks please click here. The bank thereby has a lot of influence over the rates which need to be paid in the market for loans and mortgages and the interest paid on savings. This means - amongst other things - that the bank sets the interest rates for commercial banks. The Chinese central bank has complete autonomy with regard to the use of monetary instruments. The central bank base interest rate or base rate is PBC’s basic interest rate. When reference is made to the Chinese interest rate this often refers to the base interest rate.
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