Chinese Yuan strengthens to ¥7.1856 against U.S. dollar
The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 27 pips to ¥7.1856 against the U.S. dollar on Monday, according to the China Foreign Exchange Trade System.
In China’s spot foreign exchange market, the yuan can rise or fall by two per cent from the central parity rate each trading day.
The yuan’s central parity rate 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.
(Xinhua/NAN)
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