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Chinese Yuan strengthens to 6.8715 against dollar

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 48 pips to 6.8715 against the dollar on Wednesday, according to the China Foreign Exchange Trade System.

In China’s spot foreign exchange market, the yuan was  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 was  based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)

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