Chinese yuan strengthens to 6.6756 against USD Monday

0 Comment(s)Print E-mail Xinhua, May 23, 2022
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File photo shows China's RMB and US dollar banknotes in Qionghai, south China's Hainan Province. [Photo/Xinhua]

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 731 pips to 6.6756 against the U.S. dollar Monday, 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.

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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