(MENAFN)The China Foreign Exchange Trade System stated that the central parity volume of the Chinese currency renminbi, or the yuan, declined 113 pips to 6.4763 in contrast to the US dollar on Monday.
During the country’s spot foreign trade market, the yuan is permitted to increase or decrease by 2 percent from the central parity volume every exchange day.
A weighted average of values given by market makers before the launch of the inter-bank market every exchange day controls the central parity volume of the yuan compared to the US dollar.
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