(FILES) This file photo taken on August 8, 2018 shows bundles of 100 yuan (14.6 USD) notes at a bank in Shanghai. - The Chinese offshore yuan fell to its lowest level against the US dollar since August 2010 in morning trade on August 5. (Photo by Johannes EISELE / AFP)
(FILES) This file photo taken on August 8, 2018 shows bundles of 100 yuan (14.6 USD) notes at a bank in Shanghai. - The Chinese offshore yuan fell to its lowest level against the US dollar since August 2010 in morning trade on August 5. (Photo by Johannes EISELE / AFP)
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.
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The central parity rate of the Yªuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the inter-bank market each business day.
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