According to the China Foreign Exchange Trade System, the central parity rate of the Chinese yuan, or renminbi, rose 238 pip to 7.1527 versus the dollar on Thursday.
The yuan is permitted to deviate by 2% from the central parity rate in China’s spot foreign exchange market each trading day.
The weighted average of prices given by market makers each business day prior to the opening of the interbank market serves as the foundation for the central parity rate of the yuan against the dollar.
(Xinhua/NAN)