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Yuan declined to 7.1733 compared to USD Monday
(MENAFN) According to data from the China Foreign Exchange Trade System, the central reference ratio of the Chinese yuan, also known as the renminbi, depreciated by 28 pips on Monday, reaching a value of 7.1733 against the U.S. dollar.
Within China’s foreign exchange spot market, the yuan operates within a regulated fluctuation margin, permitting its value to increase or decrease by a maximum of 2 percent relative to the central parity rate during each trading session.
The exchange rate of the yuan against the U.S. dollar is determined daily through a weighted average of price quotations submitted by market participants prior to the commencement of trading in the interbank market.
Within China’s foreign exchange spot market, the yuan operates within a regulated fluctuation margin, permitting its value to increase or decrease by a maximum of 2 percent relative to the central parity rate during each trading session.
The exchange rate of the yuan against the U.S. dollar is determined daily through a weighted average of price quotations submitted by market participants prior to the commencement of trading in the interbank market.
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