BUSINESS

Chinese yuan weakens to 6.9096 against USD Tuesday

Published

2 years ago

September 6, 2022

Nana Musa

The central parity rate of the Chinese currency renminbi or the yuan, weakened 98 pips to 6.9096 against the U.S. dollar on Tuesday, according to the China Foreign Exchange Trade System.

In China’s spot foreign exchange market, the yuan was 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.

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