Foreign
THE central parity rate of the Chinese currency renminbi, or the yuan, weakened 369 pips to 6.9525 against the U.S. dollar 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 percent 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. ( Xinhua/NAN)
KN
Tags: China Foreign Exchange Trade System Chinese yuan dollarRelated Posts
Most Read
BusinessNDIS7: Nigeria’s N5bn Creative Industry, a goldmine for Diaspora InvestmentBy editor1 MIN READ
Africa500 barracks women to benefit from DEPOWA free cancer screening – PresidentBy editor1 MIN READ
