The yuan strengthened 79 basis points to 6.7000 against the US dollar

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The yuan strengthened 79 basis points to 6.7000 against the US dollar
(190830) -- BEIJING, Aug. 30, 2019 (Xinhua) -- A staff member displays the banknotes and coins included in the 2019 edition of the fifth series of the renminbi at an Industial and Commercial Bank of China (ICBC) branch in Beijing, capital of China, Aug. 30, 2019. A new edition of the fifth series of China's currency the renminbi, or the yuan, was officially launched Friday with brighter colors and more sophisticated anti-counterfeiting features. The fifth series of renminbi was introduced in 1999. (Xinhua/Chen Yehua)

Fajarasia.co – The yuan strengthened 79 basis points to 6.7000 against the US dollar on Friday, extending gains for a second straight day after rising 30 basis points to 6.7079 in the previous session, according to the China Foreign Exchange Trading System.

In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2.0 percent from its middle parity level each trading day.

The middle rate of the yuan against the US dollar is based on the price-weighted average offered by market participants prior to the opening of the interbank money market on each business day.****

 

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