Ren­minbi gains fur­ther ground against dol­lar

China Daily - - BUSINESS -

The cen­tral par­ity rate of the ren­minbi, or the yuan, strength­ened by 349 ba­sis points to 6.7560 against the US dol­lar on 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 US 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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