Home News INDIAN NEWS Chinese yuan edges up to 6.8482 against US dollar

Chinese yuan edges up to 6.8482 against US dollar

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US Dollars. (File Photo: Xinhua/IANS) by .
US Dollars.

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 150 basis points to 6.8482 against the US dollar, according to the China Foreign Exchange Trade System…reports Asian Lite News

US Dollars. (File Photo: Xinhua/IANS) by .
US Dollars.

In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.