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Chinese Yuan strengthens to 7.1254 against dollar
The central parity rate of the Chinese currency renminbi, or the yuan,
strengthened 152 pips to 7.1254 against the dollar on Wednesday, according to the China Foreign Exchange Trade System.
strengthened 152 pips to 7.1254 against the dollar on Wednesday, according to the China Foreign Exchange Trade System.
In China’s spot foreign exchange market, the yuan is allowed to rise or fall by two per cent from the central parity rate each
trading day.
trading day.
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The central parity rate of the yuan against the dollar is based on a weighted average of prices offered by market makers
before the opening of the interbank market each business day. (Xinhua/NAN)
before the opening of the interbank market each business day. (Xinhua/NAN)
