Chinese Yuan Crashes Down To 6.8998 Against Dollars
September 5, 2022
7:43 pm
The Chinese market saw a major downturn today as the Chinese currency, the renminbi, or the yuan has reportedly weakened on 81 pips to 6.8998 against the United States dollar as had been reported by the China Foreign Exchange Trade System.
In China’s spot foreign exchange market, the yuan had been allowed to rise or fall by two per cent from the central parity rate each trading day.
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The central parity rate of the yuan against the dollar was based on a weighted average of prices offered by …
