The central parity rate of the Chinese currency renminbi, or the Yuan, strengthened 34 pips to 7.1695 against the dollar on Friday.
This is according to the China Foreign Exchange Trade System.
In China’s spot foreign exchange market, the Yuan 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. (Xinhua/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!
