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Friday Mar 29, 2024

Chinese yuan weakens to 6.4895 against USD Thursday

Chinese currency renminbi, or the yuan, weakened 223 pips to 6.4895 against the US dollar


Nepalnews
2021 May 06, 10:33, Beijing
Chinese yuan weakens against US dollar Photo: AP

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 223 pips to 6.4895 against the US dollar Thursday, 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 US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Chinese currency US dollar yuan
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