Chinese Yuan weakens against Dollar


Chinese Yuan and US Dollars

The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 116 pips to 7.2197 against the dollar on Wednesday.

This is according to the China Foreign Exchange Trade System.

In China’s spot foreign exchange, the Yuan is allowed to rise or fall by two percent from the central parity rate each 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.


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