Chinese Yuan weakens to 7. 1 against dollar

Tue, Jan 23, 2024
By editor
1 MIN READ

Africa

THE central parity rate of the Chinese currency, Renminbi, or the Yuan, weakened 12 pips to 7.1117 against the dollar on Tuesday, 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.

-January 23, 2024 @ 12:52 GMT|

Tags: Chinese Yuan weakens


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