403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Chinese Yuan Edges Lower Against U.S. Dollar
(MENAFN) China's yuan edged lower against the U.S. dollar on Monday, with the currency's central parity rate declining 82 pips to 6.9223, the China Foreign Exchange Trade System reported.
Under the framework governing China's managed currency regime, the yuan is permitted to fluctuate up to 2 percent above or below its daily reference rate within the onshore spot foreign exchange market — a mechanism designed to allow measured market movement while preserving regulatory oversight.
The benchmark rate itself is calculated each business day through a weighted average of quotes submitted by designated market makers prior to the opening of interbank trading, ensuring the fix reflects prevailing market conditions before the session begins.
Under the framework governing China's managed currency regime, the yuan is permitted to fluctuate up to 2 percent above or below its daily reference rate within the onshore spot foreign exchange market — a mechanism designed to allow measured market movement while preserving regulatory oversight.
The benchmark rate itself is calculated each business day through a weighted average of quotes submitted by designated market makers prior to the opening of interbank trading, ensuring the fix reflects prevailing market conditions before the session begins.
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