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The Chinese Yuan’s central parity rate against the US dollar has weakened by 23 pips to 7.1405, according to the China Foreign Exchange Trade System. This development is significant for China’s foreign exchange market.

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The central parity rate is determined by a weighted average of prices offered by market makers before the interbank market opens each business day. China’s spot foreign exchange market allows the Yuan to fluctuate by up to 2% from the central parity rate each trading day.

Market Dynamics

The Yuan’s value against the US dollar is influenced by a range of factors, including economic indicators, trade flows, and monetary policy decisions. The central parity rate serves as a benchmark for the Yuan’s value, and its fluctuations can have implications for trade and investment.

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The China Foreign Exchange Trade System’s methodology for determining the central parity rate helps to ensure that the rate reflects market forces and provides a stable reference point for market participants

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