The central parity rate of the Chinese currency, the renminbi (yuan), strengthened by 101 pips to 7.1031 against the dollar, according to the China Foreign Exchange Trade System. In China’s spot foreign exchange market, the yuan is permitted to fluctuate within a two percent range from the central parity rate each trading day.
The central parity rate is determined based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
