China’s yuan strengthens against dollar

Chinese yuan strengthened against the US dollar on Wednesday, with the central parity rate rising by 64 pips to 7.1415, according to China Foreign Exchange Trade System (CFETS).

The central parity rate is the benchmark exchange rate set by the People’s Bank of China (PBC) each day. This rate is announced at 9:15 am (Beijing time) and serves as a reference point for the day’s trading