hi INDiA
News Update 24X7

Chinese shares open higher, yuan weakens

China Trade20190722114642_l

Beijing, July 22 (IANS) Chinese stocks opened higher on Monday, with the benchmark Shanghai Composite Index up 0.05 per cent to open at 2,925.79 points.

The Shenzhen Component Index opened 0.2 per cent higher at 9,247.28 points, Xinhua news agency reported.

Meanwhile, the central parity rate of the Chinese currency renminbi, or the yuan, weakened 124 basis points to 6.8759 against the US dollar, according to the China Foreign Exchange Trade System.

In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 per cent from the central parity rate each trading day.

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


Free WhatsApp News/Events discount

Exclusive special Huge Discounts on Events to our Subscribers ONLY

Invalid email address
We promise not to spam you. You can unsubscribe at any time. PRIVACY POLICY

Get real time updates directly on you device, subscribe now.