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Yuan Strengthens To 6.7882 Against Dollar

KANABE MEDINAT, EditorBy 1 Min Read
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The central parity rate of the Chinese currency renminbi, or the Yuan, strengthened 18 pips to 6.7882 against the dollar on Wednesday.

This is according to the China Foreign Exchange Trade System.In China’s spot foreign exchange market, the Yuan is allowed to rise or fall by two per cent 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.

(Xinhua/NAN)

Medinat Kanabe is a multiple award winning journalist with over 15 years of journalism experience. She holds a Masters Degree from Babcock University, Ogun State. She has reported education, health, gender, business. Her most recent awards and recognition are Third Place Winner, Nutrition Category, Diamond Award for Media Excellence, DAME, 2021, International Centre for Investigative Reporting Award, 2021; Runner-Up, Tourism Reporter, Nigerian Media Merit Award, 2021; Winner Female Reporter of the Year, Nigeria Media Merit Award (NMMA), 2019, Second Runner-up, Nutrition Category, Diamond Award for Media Excellence (DAME), 2018, among others

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