Wednesday, October 5, 2022

Chinese yuan strengthens to ¥6.3664 against U.S. dollar

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 13 pips to ¥6.3664 against the U.S. dollar Tuesday.

• March 22, 2022
Chinese Yuan and American Dollar
Chinese Yuan and American Dollar used to illustrate the story

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 13 pips to ¥6.3664 against the U.S. dollar Tuesday, 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 U.S. dollar is based on a weighted average of prices offered by market makers before opening the interbank market each business day.

(Xinhua/NAN)

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