China’s Yuan Strengthens to 6.8710 against US Dollar

Beijing, The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 139 basis points to 6.8710 against the US dollar Thursday, (Xinhua) reported citing the China Foreign Exchange Trade System. In China’s spot foreign exchange m…

Beijing, The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 139 basis points to 6.8710 against the US dollar Thursday, (Xinhua) reported citing the China Foreign Exchange Trade System.

In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2% from the central parity rate each trading day.

The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Source: Qatar News Agency