Tuesday, 02 January 2024 12:17 GMT

Chinese Yuan rises to 7.1688 compared to USD on Monday


(MENAFN) The central parity rate of the Chinese yuan, or renminbi, rose by 50 pips to 7.1688 against the U.S. dollar on Monday, as reported by the China Foreign Exchange Trade System.

Within China’s spot currency trading market, the yuan is permitted to fluctuate by as much as 2% above or below the reference exchange rate each trading.

The central parity rate of the yuan compared to the U.S. dollar is based on an adjusted average of prices provided by market makers before the interbank market opens each business day.

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