The central parity rate of the Chinese currency renminbi, or the Yuan, strengthened 1 pips to 7.1796 against the U.S. dollar Friday.
This is according to the China Foreign Exchange Trade System.
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In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by 2 per cent from the central parity rate each trading day.
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)
