Chinese yuan strengthens to 7.10 against dollar

BEIJING   -   The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 38 pips to 7.1030 against the US dollar Wednesday, according to the China For­eign Exchange Trade Sys­tem. In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day. The central parity rate of the yuan against the US dollar is based on a weighted aver­age of prices offered by mar­ket makers before the open­ing of the interbank market each business day.

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