The central parity rate of the Chinese currency Renminbi, or the Yuan, weakened seven pips to 7.1541 against the dollar on Wednesday.
NAFDAC uncovers fake chemicals, expired food flavours worth N1b
This is according to the China Foreign Exchange Trade System.
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.
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.
(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!
