China's yuan rises to 6.8854 against US dollar

The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 54 basis points to 6.8854 against the US dollar Tuesday, according to the China Foreign Exchange Trade System…reports Asian Lite News

A woman is seen at a stock exchange in Jiujiang, east China’s Jiangxi Province.

In China’s spot foreign exchange market, 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.

Latest from ASIA NEWS

UAE rescue teams fly into quake zone

UAE swiftly deploys rescue teams and relief aid to earthquake-hit Afghanistan as casualties surpass 1,400; rugged terrain and dwindling resources make global

Middle Eastern and Asian Investors Steer Clear of US

Concerns among Asian and Middle Eastern investors centre on the unpredictable nature of US policy shifts in recent years…reports Asian Lite News

Xi Woos Arab World

For Egypt, the summit carries special significance. Egypt’s accession as an SCO dialogue partner marks a strategic step toward forging more balanced,

Israel Nails Houthi PM

Al-Rahawi was killed on Thursday alongside several ministers during a meeting in southern Sanaa…reports Asian Lite News The Houthis announced on Saturday

Egypt, UAE forge strong Arab unity

The Prime Minister emphasised that continued consultation and coordination between Cairo and Abu Dhabi are central to dealing with issues of common

China’s yuan rises to 6.8854 against US dollar