BUSINESS

Chinese yuan strengthens to 6.3936 against USD Friday

Published

3 years ago

November 26, 2021

Nana Musa

The central parity rate of the Chinese currency renminbi, or yuan, strengthened 44 pips to 6.3936 against the U.S. dollar on Friday, China Foreign Exchange Trade System said Friday.

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 U.S. dollar was 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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