Wednesday, February 8, 2023

Exchange Rate: Chinese yuan now ¥7.1086 to $1

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened nine pips to ¥7.1086 against the U.S. dollar on Tuesday.

• October 18, 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 nine pips to ¥7.1086 against the U.S. dollar on Tuesday, the China Foreign Exchange Trade System said.

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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