HomeBusinessChinese Yuan strengthens to 7. 1771 against dollar

Chinese Yuan strengthens to 7. 1771 against dollar

 

 

The central parity rate of the Chinese currency renminbi,
or the yuan, strengthened by one pip to 7.1771 against the dollar on Friday, 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 percent 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.

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