Chinese Yuan Edges Up Against U.S. Dollar

2025-09-29 01:49:24

(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.

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