Chinese Yuan weakens to 7.0298 against dollar
Economy
THE central parity rate of the Chinese currency renminbi, or the Yuan weakened 378 pips to 7.0298 against the dollar on Monday.
This is 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 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)
A.I
Tags: China Foreign Exchange Trade System. Chinese yuan
Most Read
FeaturedHeineken Lokpobiri’s statement about NCDMB is reckless, bundle of lies – WaboteBy editor1 MIN READ
Subscribe to Our Newsletter
Keep abreast of news and other developments from our website.