(MENAFN- Qatar News Agency) The Chinese currency Renminbi, or the yuan, strengthened 24 basis points to 6.1124 against the US dollar on Monday, according to the China Foreign Exchange Trading System.
In China's foreign exchange spot market, the yuan is allowed to rise or fall by 1% from the central parity rate each trading day, according to China's (Xinhua) News Agency
The central parity rate of the yuan against the US dollar is based on a weighted average of prices before the opening of the market each business day.
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