The Chinese yuan strengthened against the U.S. dollar in the Asian session on Friday.

Against the greenback, the yuan fell to nearly a 2-month low of 6.1480 from an early high of 6.1320. At yesterday's close, the yuan was trading at 6.1390 against the greenback.

If the yuan extends its downtrend, it is likely to find support around the 6.16 area.

The People Bank of China set today's central parity rate for yuan at 6.1345 per dollar, compared to Thursday's reference rate of 6.1320. The central bank sets the reference rate every morning and allows the currency to move upto 2 percent from that level.

US Dollar vs CNY (FX:USDCNY)
Forex Chart
From Feb 2024 to Mar 2024 Click Here for more US Dollar vs CNY Charts.
US Dollar vs CNY (FX:USDCNY)
Forex Chart
From Mar 2023 to Mar 2024 Click Here for more US Dollar vs CNY Charts.