- Economy
- Education And Career
- Companies & Markets
- Gadgets & Technology
- After Hours
- Healthcare
- Banking & Finance
- Entrepreneurship
- Energy & Infra
- Case Study
- Video
- More
- Sustainability
- Web Exclusive
- Opinion
- Luxury
- Legal
- Property Review
- Cloud
- Blockchain
- Workplace
- Collaboration
- Developer
- Digital India
- Infrastructure
- Work Life Balance
- Test category by sumit
- Sports
- National
- World
- Entertainment
- Lifestyle
- Science
- Health
- Tech
Chinese yuan weakens to 6.9938 against USD Friday
Chinese yuan weakens to 6.9938 against USD Friday
Photo Credit :
Beijing [China], July 24 (Xinhua/ ANI): The central parity rate of the Chinese currency renminbi, or the yuan, weakened 17 pips to 6.9938 against the U.S. dollar Friday, 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.
Parity rates are found in foreign exchange (forex) markets. Two currencies are at 'parity' when the exchange rate between them is exactly one to one.
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. (Xinhua/ ANI)
Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.
