YUAN [Photo Credit: Bloomberg.com]
The central parity rate of the Chinese currency renminbi, or the yuan, weakened 390 pips to ¥6.9237 against the dollar.
The China Foreign Exchange Trade System stated this on Wednesday.
In China’s spot foreign exchange market, the yuan can rise or fall by two per cent from the central parity rate each trading day.
The yuan’s central parity rate 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)
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