The central parity rate of the Chinese currency renminbi, or the Yuan, strengthened 15 pips to 7.1840 against the dollar on Tuesday.
This is according to the China Foreign Exchange Trade System.
In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
Also Read:Stock market sheds N313bn
$23bn net foreign exchange reserves ‘ll stablise exchange rate- Uwaleke
Two Years of President Tinubu: A Business Perspective
The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
