Central parity of exchange rate = (spot buying price+selling price) /2. It is an important indicator to measure the value of a country's currency. The People's Bank of China announces the closing price of USD and other trading currencies against RMB in the inter-bank foreign exchange market on the same day after the market closes every working day, which will be used as the middle price of the currency against RMB on the next working day. It is the most important reference index for spot inter-bank foreign exchange market and bank listing exchange rate. From June 5438+1October 4, 2006, the People's Bank of China authorized China Foreign Exchange Trading Center to announce the central parity of RMB against USD, EUR, JPY and HKD at 9: 00 every working day as the central parity of spot foreign exchange market (including off-site and matchmaking methods) and bank counter transactions on that day. The formation method of the central parity of RMB against USD is as follows: China Foreign Exchange Trading Center makes an inquiry to all market makers in the interbank foreign exchange market before the opening of the daily interbank foreign exchange market, and takes the quotations of all market makers as the calculation samples of the central parity of RMB against USD. After excluding the highest quotation and the lowest quotation, the remaining market makers' quotations are weighted and averaged to get the central parity of RMB against the US dollar on that day, and the weight is comprehensively determined by China Foreign Exchange Trading Center according to the trading volume and quotations of the quotations in the inter-bank foreign exchange market. The central parity of RMB against Euro, Japanese Yen, Hong Kong Dollar, British Pound, Australian Dollar, New Zealand Dollar, Singapore Dollar, Swiss Franc, Canadian Dollar, Ringgit, Russian Ruble, South African Rand and Korean Won is calculated and determined by China Foreign Exchange Trading Center according to the central parity of RMB against US Dollar on that day and the exchange rates of Euro, Japanese Yen and Hong Kong Dollar against US Dollar in the international foreign exchange market at 9: 00 am.