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China’s yuan edges higher against US dollar

China’s yuan edges higher against US dollar
May 27
05:54 2019

Beijing, May 27 : The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 69 basis points to 6.8924 against the US dollar on Monday, 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, Xinhua reported.

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.

IANS

 

US dollar falls on economic growth fears

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