Business

Chinese yuan strengthens to 7.0690 against USD Friday


Bangladeshpost
Published : 19 Oct 2019 12:27 PM | Updated : 05 Sep 2020 07:36 AM

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 99 pips to 7.0690 against the U.S. dollar Friday, according to the China Foreign Exchange Trade System, reports BSS/Xinhua.

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.

The following are the central parity rates of the Chinese currency renminbi, or the yuan, against 24 major currencies announced on Friday by the China Foreign Exchange Trade System: