Home Business Yuan weakens to 6.9158 against dollar

Yuan weakens to 6.9158 against dollar

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On Monday, the China Foreign Exchange Trade System reported that the central parity rate of the Chinese yuan, or renminbi, against the US dollar weakened by 44 pips to 6.9158.

 In China's spot foreign exchange market, the yuan is permitted to fluctuate up or down by up to 2% from the central parity rate every trading day.

 The central parity rate is determined based on a weighted average of market maker prices before the interbank market opens each business day.

source; The Punch
link; https://punchng.com/yuan-weakens-to-6-9158-against-dollar/



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