6 May: Chinese yuan strengthens to 7.0994 vs. USD, up 69 pips, per the China Foreign Exchange Trade System.
On May 6, the Chinese yuan strengthened to 7.0994 against the US dollar, a 69 pip increase, according to the China Foreign Exchange Trade System. The yuan's central parity rate is determined by a weighted average of prices offered by market makers before the interbank market opens each business day. China's spot foreign exchange market allows the yuan to fluctuate by 2% from its central parity rate each trading day.
May 06, 2024
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