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Welcome: Home > News > Chinese yuan strengthens to 6.8874 against USD Monday, good or bad news for gas detector trade

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Chinese yuan strengthens to 6.8874 against USD Monday, good or bad news for gas detector trade

BEIJING - The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 35 basis points to 6.8874 against the US dollar Monday, according to the China Foreign Exchange Trade System. Many companies who do international trade are pay attention to the change of exchange rate.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 percent 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.

As a manufacturer and seller of gas detector, the international business and trade was very important in our business scope. The main settlement currency is US dollar. So the exchange rate will affect to our price and profit. Also, it will affect at the orders from the coutries which has a very unstable USD exchange rate. In past one years, the order of industrial gas detector from Africa and South America decreased sharply, especially in some small coutries. The jumpy USD exchange rate stopped their steps of international business.

 

In this new year of 2017, we hope the US dollar exchange rate will keep a stable curve. It is very important for gas detector and gas monitor international business, no matter portable gas detector or fixed gas detector.   


 
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