Chinese yuan strengthens to 7.0427 against USD Friday
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<p style="text-align: left;">BEIJING, March 27 (Xinhua) - The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 265 pips to 7.0427 against the US dollar Friday, according to the China Foreign Exchange Trade System.</p><p style="text-align:center"><img src="https://imedia-peoplesdaily.pdnews.cn/20200327/d323da09f8634ece9a48b5e8037c80df.jpg" title="" alt="timg.jpg"/></p><p><span style="color: rgb(127, 127, 127);">(File photo)</span></p><p>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.</p><p>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. </p>