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Home Finance, Money

Chinese Yuan weakens to 6.3624 against USD

Yuan

The Matters Press by The Matters Press
January 20, 2022
Reading Time: 1 min read
0
Value of China’s export to US dips

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The central parity rate of the Chinese currency renminbi or the yuan, weakened 103 pips to 6.3624 against the U.S. dollar Wednesday, 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 per cent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

ALSO READ  Capital importation stands at $1.73bn
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