On Monday, the Chinese renminbi (yuan) weakened to 7.1316 against the US dollar, a 46-pip decrease from the previous day's central parity rate.

Chinese currency, the renminbi (yuan), weakened to 7.1316 against the US dollar on Monday, a 46 pip decrease from the previous day's central parity rate. The yuan's spot foreign exchange market allows for a 2% rise or fall from the central parity rate each trading day. The central parity rate is determined by a weighted average of prices offered by market makers before the interbank market opens each business day.

July 29, 2024
8 Articles