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    MarketForces Africa » FX Market » Yuan Weakens to 7.1870 Against Dollar

    Yuan Weakens to 7.1870 Against Dollar

    Ogochukwu NdubuisiBy Ogochukwu NdubuisiDecember 9, 2024 FX Market No Comments1 Min Read
    Yuan Weakens to 7.1870 Against Dollar
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    Yuan Weakens to 7.1870 Against Dollar

    The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 22 pips to 7.1870 against the dollar on Monday. This is according to 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 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. #Yuan Weakens to 7.1870 Against Dollar#

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    Ogochukwu Ndubuisi
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    Ogochukwu Ndubuisi is an editorial content strategist and financial news writer at MarketForces Africa, covering a broad range of topics including Nigeria's equity markets, infrastructure development, energy, government policy, corporate finance, and digital economy.With over 2,400 published articles on MarketForces Africa, Ogochi brings depth and consistency to the publication's daily news coverage.Her reporting spans Nigerian Exchange Group market movements, Lagos State infrastructure projects, and federal government economic policies, oil and gas developments, and emerging sectors shaping Nigeria's economic landscape.She also covers Africa-wide stories, including East African market indices, continental investment trends, and cross-border economic developments.Ogochi works closely with MarketForces Africa's editorial and corporate communications teams to deliver accurate, timely, and well-researched content to the publication's professional readership.Ogochukwu Ndubuisi is based in Lagos, Nigeria.

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