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Chinese yuan edges higher against US dollar

IANS  |  Beijing 

The central parity rate of the Chinese renminbi, or the yuan, strengthened 74 basis points to 6.7128 against the US dollar on Tuesday, according to the Foreign Exchange Trade System.

In China's spot foreign exchange market, the is allowed to rise or fall by 2 percent from the central parity rate each trading day, reported.

The central parity rate of the 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.

--IANS

vin/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Tue, March 12 2019. 07:20 IST
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