China adjusted the yuan’s central parity rate against the U.S. dollar to 7.1882 on December 16.

On December 16, China announced the central parity rates of the yuan against 25 major currencies. The yuan’s rate against the U.S. dollar weakened by 6 pips to 7.1882. This rate is determined by a weighted average of prices from market makers before the interbank market opens daily. The yuan can fluctuate by 2% from this central rate in China’s spot foreign exchange market each day.

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