China: Yuan advances to 6.389 against USD on Tuesday
(MENAFN) The China Foreign Exchange Trade System reported that on Tuesday, Oct. 26 the central parity rate of the Chinese currency renminbi, or the yuan, advanced 34 pips hitting 6.389 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 rate of the Chinese yuan against the USD is anchored in.
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