BUSINESS Chinese yuan strengthens to 6.7665 against USD Thursday

BUSINESS

Chinese yuan strengthens to 6.7665 against USD Thursday

Xinhua

10:25, May 09, 2019

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(Photo: Xinhua)

BEIJING, May 9 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, weakened 69 basis points to 6.7665 against the US dollar Thursday, according to the China Foreign Exchange Trade System.

The US dollar weakened modestly against its major rivals in late trading on Wednesday amid traders' safe-haven buying of the Japanese yen.

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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