Yuan Strengthens to 6.7911 Against USD
The Chinese yuan strengthened to 6.7911 against the U.S. dollar on Monday, according to the China Foreign Exchange Trade System.
This marks a 28-pip increase from the previous day's central parity rate.
The central parity rate is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
In China's spot foreign exchange market, the yuan can rise or fall by 2 percent from this rate each trading day.