BUSINESS Chinese yuan strengthens to 7.0795 against USD Tuesday

BUSINESS

Chinese yuan strengthens to 7.0795 against USD Tuesday

Xinhua

09:58, June 30, 2020

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BEIJING, June 30 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 13 pips to 7.0795 against the U.S. dollar Tuesday, 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 U.S. 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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