Chinese Yuan strengthens against U.S Dollar

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 20 pips to 7.1466 against the U.S Dollar.

This is according to the China Foreign Exchange Trade System on Thursday.

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.

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