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Sunday Oct 17, 2021

Chinese yuan weakens to 6.4612 against USD Wednesday


Nepalnews
2021 Oct 13, 8:59, Beijng
Chinese yuan weakens against US dollar Photo: AP

The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 165 pips to 6.4612 against the U.S. dollar Wednesday, according to the China Foreign Exchange Trade System.

In China's spot foreign exchange market, the Yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the inter bank market each business day.

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Chinese currency yuan US dollar foreign exchange market China Foreign Exchange Trade System

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