Yuan Gains Ground: China’s Currency Strengthens to 7.1656 Against Dollar

Recently, the central parity rate of the Chinese currency renminbi, or the Yuan, strengthened 54 pips to 7.1656 against the dollar.

This is according to the China Foreign Exchange Trade System.

In China’s spot foreign exchange market, the Yuan can 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.