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Home Economy/Technology

Yuan weakens to 6.9654 against dollar

Yuan

The Matters Press by The Matters Press
May 15, 2023
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 173 pips to 6.9654 against the dollar on Monday, 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 dollar 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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