China’s yuan rises to 6.8854 against US dollar

Beijing:The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 54 basis points to 6.8854 against the US dollar Tuesday, according to the China Foreign Exchange Trade System.

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

Also Read

At least 24 killed as bus falls into river in Bangladesh; search on for missing

8 hours ago

Oil prices spike as Iran rejects US talks

10 hours ago

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.

IANS