China's yuan edges lower against US dollar

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, Xinhua news agency reported.

China's yuan edges lower against US dollar
The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. Reuters

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 44 basis points to 6.6901 against the US dollar 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 2 percent from the central parity rate each trading day, Xinhua news agency reported.

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The central parity rate of the yuan against the U.S. 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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Written By: IANS
Updated: Thu, Feb 28, 2019
11:48 AM IST
Beijing, IANS
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