AfriPulse
28th April 2023
Chinese Yuan and American dollars
The central parity rate of the Chinese currency renminbi, or the yuan, weakened 33 pips to 6.9240 against the dollar on Friday, according to the China Foreign Exchange Trade System.
In China’s spot foreign exchange market, the yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
Xinhua/NAN
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Editor’s Note
In our post on February 19, 2023, in a story ‘Woman burns self to death over failure to offset N70,000 loan’, we reported that a middle-aged woman, simply known as Mama Dada, set herself ablaze over her inability to pay back a loan of N70,000 she reportedly took from a microfinance bank, LAPO.
We have since discovered that the microfinance bank referred to in the story was not LAPO Microfinance Bank Limited.
We apologise to the LAPO Group for the error in the identification of the name of the said microfinance bank where the deceased took the loan. The mix-up in the name of the MFB is not deliberate.
Source: PunchNG | Read More
