WORLD

Chinese Yuan weakens to 7.1368 to dollar

Published

1 year ago

August 2, 2023

Nana Musa

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 85 pips to 7.1368 to the dollar on Wednesday, 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 to the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market on each business day.

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Nana Musa

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