Economy
THE central parity rate of the Chinese currency, renminbi, or the yuan, strengthened 33 pips to 7.1216 against the dollar on Wednesday.
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
Aug. 28, 2024
Tags: Yuan strengthens against dollarRelated Posts
Most Read
EducationABU International Studies Alumni offers scholarships to 20 indigent students By editor1 MIN READ
AfricaEnergy Industry Congratulates John Mahama on Re-election, Commends Progress in Oil and Gas SectorBy editor1 MIN READ
BusinessAFAWA initiative teams with African Guarantee Fund, Bank of Industry for $50m financing agreement targeting Nigerian small and medium enterprisesBy editor1 MIN READ
BusinessAfreximbank participates in Bank of Industry Nigeria’s syndicated facility of up to EUR 2-billionBy editor1 MIN READ
