The central parity rate of the Chinese currency renminbi, or the yuan, strengthened one pips to 7.1784 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.
READ ALSO: 3 Main Reasons Supreme Court Dismisses Atiku’s Appeal, Upholds Tinubu’s Victory
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. (Xinhua/NAN)
