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    Thursday, April 16
    Foreign

    Yuan Strengthens 7. 1049 Against Dollar

    Julius AlagbeBy Updated:No Comments1 Min Read
    Yuan Strengthens 7. 1049 Against Dollar

    Yuan Strengthens 7. 1049 Against Dollar

    The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 33 pips to 7.1049 against the dollar on Wednesday, 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 Strengthens 7. 1049 Against Dollar#

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    Julius Alagbe has about 2 decades of experience in finance, accounting and economics. A fantastic financial analyst with experience in the media, research and consulting industry.With an education background from top global institutes like Imo State University, the Association of Chartered Certified Accountants (ACCA), the Chartered Institute of Administration/Nigerian College of Administration, and Julius has focused on anything that trends, figures, and projections can explain.Apart from his reportage skills, Julius has cut his teeth in Due Diligence, Advisory Service, Research, and Training.

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