Chinese RMB strengthens to 7.1769 against USD Wednesday

According to the China Foreign Exchange Trade System, the central parity rate of the Chinese currency renminbi, or the yuan, strengthened 220 pips to 7.1769 against the US dollar Wednesday (Nov. 30).

The yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day in China's spot foreign exchange market.

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