Yuan weakens to 7.1705 against dollar

By : NAN

Date: 19 February 2025 11:40am WAT

A man walks in front of an electronic board displaying the exchange rate for the Japanese yen against the US dollar, along a street in Tokyo on April 25, 2024. - Tokyo stocks opened lower on April 25 after the yen fell past a key level against the US dollar ahead of a two-day Bank of Japan policy meeting. (Photo by Kazuhiro NOGI / AFP)

The central parity rate of the Chinese currency renminbi, or the Yuan, weakened eight pips to 7.1705 against the dollar on Wednesday.

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.

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