Yuan strengthens 7.1710 against dollar

By : NAN

Date: 12 February 2025 2:00pm WAT

This photo illustration shows a Chinese 100 yuan note (C) and US 100 notes in Beijing on January 14, 2020. - The United States removed the currency manipulator label it imposed on China last summer, a sign of easing tensions between the economic powers after nearly two years of conflict. Separately, official data showed that China’s trade surplus with the United States narrowed in 2019, a day before the two countries sign a “phase one” trade deal in Washington. (Photo by NICOLAS ASFOURI / AFP)

The central parity rate of the Chinese currency Renminbi, or the Yuan, strengthened six pips to 7.1710 against the dollar on Wednesday.

This is according to the China Foreign Exchange Trade System.

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.

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.