Chinese Yuan Strengthens to 6.8556 Against USD Friday

Beijing, The Chinese currency renminbi, or the yuan, strengthened 32 basis points to 6.8556 against the U.S. dollar Friday, according to data from China Foreign Exchange Trade System reported by Xinhua news agency. In China’s spot foreign exchange mark…

Beijing, The Chinese currency renminbi, or the yuan, strengthened 32 basis points to 6.8556 against the U.S. dollar Friday, according to data from China Foreign Exchange Trade System reported by Xinhua news agency.

In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 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.

Source: Qatar News Agency