BUSINESS

Chinese Yuan strengthens to 6.6607 against dollar Tuesday

Published

3 years ago

May 31, 2022

Nana Musa

The central parity rate of the Chinese currency the Yuan, strengthened 441 pips to 6.6607 against the U.S. dollar Tuesday.

This is according to the China Foreign Exchange Trade System.

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 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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Nana Musa

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