BUSINESS

Chinese Yuan strengthens to 7. 1874 against dollar

Published

1 year ago

September 14, 2023

Nana Musa

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 20 pips to 7.1874 against the dollar on Thursday, according to the China Foreign Exchange Trade System.

The central parity rate of the yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

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.

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