The central parity rate of the Chinese currency, renminbi, or the Yuan, strengthened 25 pips to 7.0856 against the U.S dollar on Tuesday.
This is according to the China Foreign Exchange Trade System.
Why we can’t buy government owned refineries – Dangote
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.
(NAN)
Stay ahead with the latest updates! Join The ConclaveNG on WhatsApp and Telegram for real-time news alerts, breaking stories, and exclusive content delivered straight to your phone. Don’t miss a headline — subscribe now!
