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    MarketForces Africa » Foreign » Yuan Weakens 7.1982 Pips Against Dollar

    Yuan Weakens 7.1982 Pips Against Dollar

    Olu AnisereBy Olu AnisereNovember 27, 2024 Foreign No Comments1 Min Read
    Yuan Weakens 7.1982 Pips Against Dollar
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    Yuan Weakens 7.1982 Pips Against Dollar

    The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 72 pips to 7.1982 against the dollar on Wednesday.

    This is according to the China Foreign Exchange Trade System.

    In China, 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.

    The Yuan is also allowed to rise or fall by two percent from the central parity rate each trading day in the spot foreign exchange market of the country. #Yuan Weakens 7.1982 Pips Against Dollar#


    Money Market Rates Diverge as Liquidity Deficit Widens

    USDollar Yuan
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    Olu Anisere
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    Olu Anisere is a financial and economic journalist at MarketForces Africa, specialising in African macroeconomic policy, international finance, energy markets, and continental development.He covers major multilateral institutions, including the International Monetary Fund (IMF), World Bank, and the United Nations Economic Commission for Africa (ECA), providing readers with frontline reporting on policies shaping Africa's economic trajectory.Olu has reported extensively on Nigeria's fiscal and monetary policy landscape, including CBN interest rate decisions, Nigeria's bond market, FX inflows, and the country's engagement with global financial institutions.His coverage spans IMF and World Bank Spring and Annual Meetings, African Ministers of Finance conferences, and high-level economic forums where Africa's development agenda is set.His reporting captures perspectives from Africa's most influential economic voices, including Tony Elumelu, senior IMF officials, and CBN leadership, bringing institutional insight and policy depth to MarketForces Africa's readers.Olu also covers Inside Africa — tracking economic, investment, and development stories from across the continent. Olu Anisere is based in Lagos, Nigeria.

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