BUSINESS

Chinese Yuan strengthens to 6.8808 against dollar

Published

2 years ago

March 2, 2023

Constance Athekame

The central parity rate of the Chinese currency renminbi, or the Yuan, strengthened 592 pips to 6.8808 against the U.S. dollar Thursday, 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.

Related Topics:

Up Next

AfDB to accelerate private capital mobilisation in 2023

Don't Miss

United Capital sustains N1.50 dividend per share as revenue rises 49%

Constance Athekame

NEWSVERGE, published by The Verge Communications is an online community of international news portal and social advocates dedicated to bringing you commentaries, features, news reports from a Nigerian-African perspective. A unique organization, founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favour. The Verge Communications is fully registered with the Corporate Affairs Commission of the Federal Republic of Nigeria as a corporate organization.