China Currency Swap Depreciates for ¥6.9237 to $1
The Chinese renminbi, also known as the yuan, lost 390 pip to reach a central parity rate of ¥6.9237 against the dollar.
On Wednesday, the China Foreign Exchange Trade System made this declaration.
The yuan has a daily trading range of 2% from the central parity rate on China’s spot foreign currency market.
The central exchange rate of the yuan over the dollar centers on a weighted average of prices provided by traders on each business day prior to the opening of the interbank market.
