(MENAFN) The China Foreign Exchange Trade System reported that on Tuesday, May. 18 the central parity rate of China’s currency renminbi, or the yuan, deteriorated 50 pips, reaching 6.4357 against the USD.
Every trading day, the yuan can climb or decline by 2 percent from the central parity rate in China's spot foreign exchange market.
A weighted average of prices presented by market makers ahead of the opening of the interbank market every working day is what the central parity rate of the Chinese yuan against the USD is anchored in.
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