Yuan weakens against dollar
According to the China Foreign Exchange Trade System, the central parity rate of the renminbi, also known as the yuan, decreased by 33 basis points to 6.9240 per dollar on Friday.
On China's spot foreign exchange market, the yuan is permitted to fluctuate daily by two percent relative to the central parity rate.
Each business day, the central parity rate of the yuan against the dollar is determined by a weighted average of prices offered by market makers prior to the opening of the interbank market.
Leave A Comment