The central parity rate of the Chinese currency renminbi, or theyuan, strengthened 1 pips to 7.1732 against the dollar on Wednesday, according to the China Foreign Exchange Trade System.

The central parity rate of the yuan 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.

However 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. (Xinhua/NAN)

Chinese Yuan strengthens to 7. 1732 against dollar
Politics & Governance · Chinese Yuan strengthens to 7. 1732 against dollar
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Emeka Obi
Senior political and economy reporter covering Nigeria from Abuja. Over 12 years of experience tracking government policy, legislative affairs, and Nigeria's evolving business landscape.