Chinese Yuan Weakens to 7.1063 Against U.S. Dollar
The central parity rate of the Chinese currency renminbi, or the yuan, weakened 14 pips to 7.1063 against the dollar on Thursday, 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. #Chinese Yuan Weakens to 7.1063 Against U.S. Dollar#