Chinese Yuan Falls to 6.8908 Against US Dollar
The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
Beijing, December 17: The central parity rate of the Chinese currency renminbi, or the yuan, weakened 158 basis points to 6.8908 against the US 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, Xinhua news agency reported. China Pumps USD 109 Bn into Economy as Trade War Bites Growth Numbers.
The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
(The above story first appeared on LatestLY on Dec 17, 2018 08:34 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).