(MENAFN- Qatar News Agency) Ijing July 16 (QNA) - The value of the Chinese currency renminbi or the yuan weakened by 45 basis points to 6.1535 against the US dollar in its central parity on Wednesday according to the China Foreign Exchange Trading System.
In China's foreign exchange spot market the yuan is allowed to rise or fall by 2% 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 offered by market makers before the opening of the interbank market each business day. (QNA)
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.