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Home Foreign

Chinese Yuan weakens to 6.3795 against USD

Yuan

The Matters Press by The Matters Press
April 12, 2022
Reading Time: 1 min read
0
Value of China’s export to US dips

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 150 pips to 6.3795 against the U.S dollar on Tuesday, according to the China Foreign Exchange Trade System.

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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 U.S dollars is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

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