China’s currency, the Yuan, strengthened slightly against the U.S. dollar on Monday, according to the China Foreign Exchange Trade System.
The central parity rate rose by 35 pips to 6.8467 per dollar ahead of trading activities in the interbank foreign exchange market.
China’s forex system said the daily rate is determined using a weighted average of prices provided by market makers before trading opens. The Yuan is also allowed to fluctuate within a set trading range each day.
The development is one of the latest signals from the global currency market as investors continue to monitor international economic trends.
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