Chinese yuan weakens to 7.0365 against USD


The central parity rate of the Chinese currency renminbi, or the yuan, weakened 53 pips to 7.0365 against the U.S. dollar Monday, 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, agency reports.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the

interbank market each business day.

The following are the central parity rates of the Chinese currency renminbi, or the yuan, against 24 major currencies announced on Monday by the China Foreign Exchange Trade System:


Currency Unit Central parity rate in yuan

U.S. dollar 100 703.65

Euro 100 780.52

Japanese yen 100 6.6135

Hong Kong dollar 100 89.712

British pound 100 855.65

Australian dollar 100 477.45

New Zealand dollar 100 452.12

Singapore dollar 100 508.16

Swiss franc 100 718.82

Canadian dollar 100 530.54

Malaysian ringgit 59.309 100

Ruble 942.90 100

Rand 217.33 100

Korean won 17,188 100

UAE dirham 52.181 100

Saudi riyal 53.289 100

Hungarian forint 4,157.45 100

Polish zloty 55.601 100

Danish krone 95.52 100

Swedish krona 137.32 100

Norwegian krone 127.92 100

Turkish lira 79.37 100

Mexican peso 278.97 100

Thai baht 439.18 100

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

The central parity rate of the yuan against the Hong Kong dollar is based on the central parity rate of the yuan against the U.S. dollar and the exchange rate of the Hong Kong dollar against the U.S. dollar at 9 a.m. in international foreign exchange markets on the same business day.

The central parity rates of the yuan against the other 22 currencies are based on the average prices offered by market makers before the opening of the interbank foreign exchange market.

Chinese yuan strengthens last week

China’s yuan strengthened against a basket of currencies last week,

according to the China Foreign Exchange Trade System (CFETS).

The CFETS yuan exchange rate composite index, which measures the yuan’s

strength relative to a basket of currencies, came in at 92.03 on Friday, up

0.19 points from a week earlier, according to the CFETS.

The index compares the yuan to the value of 24 currencies, including the

U.S. dollar, euro and Japanese yen.

Last week also saw an index that measures the yuan against the Bank for

International Settlements currency basket up 0.27 points to 95.56.

The index measuring the yuan against the Special Drawing Rights basket went

up 0.08 points to 91.82.