Chinese Yuan strengths against Dollar

The central parity rate of the Chinese currency renminbi, or the yuan, has strengthened 48 pips to 6.8715 against the dollar.

This new update is according to the China Foreign Exchange Trade System on Wednesday.

In China’s spot foreign exchange market, the yuan was allowed to rise or fall by two percent from the central parity rate each trading day.

The central parity rate of the yuan against the dollar was based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Xinhua/NAN