BUSINESS

Yuan strengthens 7. 087 against dollar

Published

3 months ago

September 18, 2024

Nana Musa-umar

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 160 pips to 7.087 against the dollar on Wednesday.

This is according to the China Foreign Exchange Trade System.

In China’s spot foreigners 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 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-umar

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