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    Chinese Yuan Weakens to 7.1063 Against U.S. Dollar

    Julius AlagbeBy No Comments1 Min Read
    Chinese Yuan Weakens to 7.1063 Against U.S. Dollar

    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#

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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