The central parity rate of China’s renminbi, also known as the Yuan, weakened by 24 pips to 6.8195 against the U.S. dollar on Wednesday.
The China Foreign Exchange Trade System announced the rate.
In China’s spot foreign exchange market, the Yuan is permitted to fluctuate within a two per cent range above or below the central parity rate during each trading day.
The Yuan’s central parity rate against the dollar is calculated based on a weighted average of exchange rates quoted by market makers before the opening of the interbank foreign exchange market each business day.
SOURCE: NAN
