On Thursday, the central parity rate of the Chinese yuan (renminbi) was set at 7.1345 per U.S. dollar, marking a 64-pip increase, according to the China Foreign Exchange Trade System.
In China’s spot foreign exchange market, the yuan is permitted to fluctuate by up to 2% above or below this central rate during daily trading.
This benchmark rate is determined each business day by calculating a weighted average of quotes submitted by market makers before the interbank market opens.