Chinese Yuan Strengthens To 7.0657 USD Monday

Chinese yuan strengthens to 7.0657 USD Monday

He central parity rate of the Chinese currency renminbi, or the yuan, strengthened 189 pips to 7.0657 against the U.S. dollar Monday, according to the China Foreign Exchange Trade System

BEIJING, (UrduPoint / Pakistan Point News - 16th Sep, 2019 ) :The central parity rate of the Chinese Currency renminbi, or the yuan, strengthened 189 pips to 7.0657 against the U.S. Dollar Monday, according to the China Foreign Exchange Trade System.

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 U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

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