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Chinese yuan strengthens to 6.8808 against USD Thursday
March 2nd, 2023 | 11:01 AM | 211 views
BEIJING
The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 592 pips to 6.8808 against the U.S. dollar Thursday, 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 percent 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.
Source:
courtesy of XINHUA NEWS AGENCY
by XINHUA NEWS AGENCY
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