Devdiscourse
Development News Edition
Give Feedback
write for Us

Chinese yuan strengthens against US dollar


Devdiscourse News Desk beijing China
Updated: 29-01-2019 08:16 IST
Chinese yuan strengthens against US dollar

Image Credit: Pixabay

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 116 basis points to 6.7356 against the US dollar on Tuesday, 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 percent from the central parity rate each trading day, Xinhua news agency reported. The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

(With inputs from agencies.)

COUNTRY : China

POST A COMMENT