Chinese Yuan strengthens to ¥7.11 against dollar
The central parity rate of the Chinese currency renminbi, or the yuan, strengthened by two pips to ¥7.1101 against the dollar on Thursday, according to the China Foreign Exchange Trade System.
In China’s spot foreign exchange market, the yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The yuan’s central parity rate against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
(Xinhua/NAN)
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