403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Chinese Yuan Edges Up Against U.S. Dollar
(MENAFN) The central parity rate of China’s currency, the renminbi—commonly known as the yuan—gained 63 pips on Monday, reaching 7.1089 against the U.S. dollar, as reported by the China Foreign Exchange Trade System.
In China’s spot foreign exchange market, the yuan’s value is permitted to fluctuate within a 2 percent range above or below the central parity rate each trading day, allowing for controlled yet flexible market movements.
This central parity rate is determined daily through a weighted average of quotes provided by market makers ahead of the interbank market’s opening, reflecting a carefully calculated benchmark for yuan-dollar trading.
In China’s spot foreign exchange market, the yuan’s value is permitted to fluctuate within a 2 percent range above or below the central parity rate each trading day, allowing for controlled yet flexible market movements.
This central parity rate is determined daily through a weighted average of quotes provided by market makers ahead of the interbank market’s opening, reflecting a carefully calculated benchmark for yuan-dollar trading.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment