Yuan strengthens to 6.643 against dollar

The central parity rate of the renminbi, or the yuan, strengthened 113 basis points to 6.643 against the dollar on Monday, according to the China Foreign Exchange Trading 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 dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.