Beijing [China], May 26 (ANI): The central parity rate of the Chinese currency renminbi, or the yuan, weakened 216 pips to 6.6766 against the U.S. dollar 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 2 per cent from the central parity rate each trading day, as per Xinhua News Agency.
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 interbank market each business day. (ANI)