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Chinese Yuan strengthens to 7.1102 against dollar

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The central parity rate of the Chinese currency renminbi, or the Yuan, strengthened five pips to 7.1102 against the dollars on 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 two per cent from the central parity rate each trading day.

The central parity rate of the Yuan against the dollars is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

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