Chinese Yuan Weakens To 6.3677 Against USD Friday

Mohammad Ali (@ChaudhryMAli88) Published January 14, 2022 | 06:10 PM

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 135 pips to 6.3677 against the U.S. dollar Friday, according to the China Foreign Exchange Trade System

BEIJING, (APP - UrduPoint / Pakistan Point News - 14th Jan, 2022 ) :The central parity rate of the Chinese Currency renminbi, or the yuan, weakened 135 pips to 6.3677 against the U.S. Dollar Friday, 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.