JAKARTA - The yuan strengthened another 218 basis points to 6.4307 against the U.S. dollar in trading Monday, May 17.
As reported by Antara, this recorded an increase for the second day in a row after being lifted 87 basis points last weekend, according to the Chinese Foreign Exchange Trading System (CFETS).
In China's foreign exchange spot market, the yuan is allowed to rise or fall by two percent of its central parity level each trading day.
The yuan's central exchange rate against the US dollar is based on the price-weighted average offered by market participants before the opening of the interbank money market on each business day.
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