The central parity rate of the Chinese currency renminbi, or the yuan, weakened 116 pips to 7.2197 against the U.S. dollar Wednesday, according to the China Foreign Exchange Trade System.
In China’s spot foreign exchange, the Yuan is allowed to
rise or fall by two percent from the central parity rate each trading day.
The central parity rate of the Yuan against the dollar is
based on a weighted average of prices offered by market makers before the
opening of the interbank market each business day.
Xinhua/NAN
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