Chinese yuan strengthens against dollar

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IANS Beijing
Last Updated : Jan 18 2017 | 9:13 AM IST

The central parity rate of the Chinese currency renminbi (yuan) on Wednesday strengthened 467 basis points to 6.8525 against the US dollar, the Foreign Exchange Trade System said.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 per cent from the central parity rate each trading day, Xinhau news agency reported.

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.

--IANS

py/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Jan 18 2017 | 9:04 AM IST

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