The central parity rate of the Chinese currency renminbi, or the yuan, weakened 2 pips to 7.0731 against the US dollar on 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 US 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:
Currency Unit Central parity rate in yuan
US dollar 100 707.31
Euro 100 774.77
Japanese yen 100 6.5907
Hong Kong dollar 100 90.212
British pound 100 875.53
Australian dollar 100 479.57
New Zealand dollar 100 446.98
Singapore dollar 100 513.9
Swiss franc 100 715.17
Canadian dollar 100 535.43
Malaysian ringgit 58.974 100
Ruble 902.62 100
Rand 211.6 100
Korean won 16,873 100
UAE dirham 51.694 100
Saudi riyal 52.8 100
Hungarian forint 4,323.86 100
Polish zloty 56.516 100
Danish krone 96.26 100
Swedish krona 137.51 100
Norwegian krone 127.87 100
The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
The central parity rate of the yuan against the Hong Kong dollar is based on the central parity rate of the yuan against the US dollar and the exchange rate of the Hong Kong dollar against the US dollar at 9 a.m. in international foreign exchange markets on the same business day.
The central parity rates of the yuan against the other 22 currencies are based on the average prices offered by market makers before the opening of the interbank foreign exchange market.