The central parity rate of the Chinese currency, the Yuan, weakened 340 pips to 6.8714 against the dollar on Monday.
This is according to the China Foreign Exchange Trade System.
Advertisement
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.
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.
Latest posts by Editor (see all)
- Gov. Namadi and Jigawa Rebirth - June 15, 2025
- Nigeria’s reforms have put the country on the global economic map, By ABDUL SAMAD RABIU - June 8, 2025
- Uba Sani hails Tajudeen’s appointment as river basin MD - June 1, 2025
Advertisement
