RMB getting stronger against USD

Based on the China Foreign Exchange Trading System, the value of the RMB has been strengthened by 42 basis points to 6.1153 against the U.S. dollar in its central parity rate on Thursday. In China’s spot foreign exchange market, the RMB is allowed to fluctuate 2 % from the central parity rate each trading day. The central parity rate of the RMB against the USD is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

About the author

David writes about economic activity throughout Southeast Asia and specializes on international trade relating to China. In addition, he holds a Masters Degree in Economics from Peking University.
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