403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Chinese Yuan Edges Down Against U.S. Dollar
(MENAFN) The Chinese currency renminbi, commonly known as the yuan, saw its central parity rate decline 18 pips to 7.0656 versus the U.S. dollar on Monday, data from the China Foreign Exchange Trade System revealed.
Under China's spot foreign exchange market regulations, the yuan can fluctuate by 2 percent in either direction from the central parity rate during each trading session, providing a controlled band for daily currency movements.
The central parity rate of the yuan relative to the U.S. dollar derives from a weighted average of quotations submitted by market makers prior to the interbank market's opening each business day, establishing a benchmark for trading activity.
This mechanism ensures market stability while allowing price discovery through controlled flexibility in foreign exchange operations.
Under China's spot foreign exchange market regulations, the yuan can fluctuate by 2 percent in either direction from the central parity rate during each trading session, providing a controlled band for daily currency movements.
The central parity rate of the yuan relative to the U.S. dollar derives from a weighted average of quotations submitted by market makers prior to the interbank market's opening each business day, establishing a benchmark for trading activity.
This mechanism ensures market stability while allowing price discovery through controlled flexibility in foreign exchange operations.
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