Chinese Yuan weakens to ¥6.8886 against dollar
Chinese Yuan and American Dollar used to illustrate the story
The central parity rate of the Chinese currency, renminbi, or the yuan, weakened 115 pips to ¥6.8886 against the dollar Thursday, says 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 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 inter-bank market each business day.
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