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Chinese Yuan Edges Down Against U.S. Dollar
(MENAFN) The central parity rate of the Chinese currency renminbi, or the yuan, declined 10 pips to 7.0197 versus the U.S. dollar Thursday, the China Foreign Exchange Trade System reported.
Within China's spot foreign exchange market, the yuan is permitted to fluctuate by 2 percent from the central parity rate during each trading session, providing controlled flexibility for currency movements.
The central parity rate of the yuan against the U.S. dollar is determined by a weighted average of prices provided by market makers prior to the opening of the interbank market each business day, establishing a baseline reference point for daily trading activity.
Within China's spot foreign exchange market, the yuan is permitted to fluctuate by 2 percent from the central parity rate during each trading session, providing controlled flexibility for currency movements.
The central parity rate of the yuan against the U.S. dollar is determined by a weighted average of prices provided by market makers prior to the opening of the interbank market each business day, establishing a baseline reference point for daily trading activity.
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