The central parity rate of the Chinese currency, the renminbi (Yuan), appreciated by 30 pips to 7.0796 against the U.S. dollar on Wednesday.
This was according to the China Foreign Exchange Trade System.
In China’s spot foreign exchange market, the Yuan is permitted to fluctuate by up to two per cent above or below the central parity rate each trading day.
The daily central parity rate is determined using a weighted average of prices submitted by market makers before the interbank market opens.
