(MENAFN) The China Foreign Exchange Trade System reported that on Wednesday, Jul. 28 the central parity rate of the Chinese currency renminbi, or the yuan, deteriorated 195 pips hitting 6.4929 against the USD.
Every trading day, the Chinese yuan can climb or decline by 2 percent from the central parity rate in the country’s spot foreign exchange market.
A weighted average of prices introduced by market makers ahead of the opening of the interbank market every working day is what the central parity percent rate of the Chinese yuan against the USD is anchored in.
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