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Yuan weakens to 7. 1299 against dollar

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August 29, 2024

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Yuan and Dollar

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The central parity rate of the Chinese currency renminbi, or the yuan, weakened 83 pips to 7.1299 against the dollar on Thursday.

This is according to the China Foreign Exchange Trade System.

ALSO READ: Yuan weakens to 7. 1249 against dollar

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 dollar 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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