Chinese Yuan and American Dollar used to illustrate the story
The central parity rate of the Chinese currency renminbi or the yuan weakened 83 pips to 7.2555 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 per cent 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.
We have recently deactivated our website’s comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
Source: Peoples Gazette.