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China Currency Swap Depreciates for ¥6.9237 to $1

renminbi to usd

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.

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