The central parity rate of the Chinese currency renminbi, or the yuan, strengthened one pips to 7.1772 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 percent from the central parity rate each trading day.
READ ALSO: Jigawa govt earmarks N360m for school rehabilitation project
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)
