Chinese yuan strengthens against dollar | 2018-09-09 | daily-sun.com

Chinese yuan strengthens against dollar

9 September, 2018 12:00 AM printer

BEIJING: The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 5 basis points to 6.8212 against the U.S. dollar 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 2 percent from the central parity rate each trading day, reports Xinhua.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

The central parity rate of the yuan against the Hong Kong dollar is based on the central parity rate of the yuan against the U.S. dollar and the exchange rate of the Hong Kong dollar against the U.S. dollar at 9 a.m. in international foreign exchange markets on the same business day.


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