The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 40 pips to 7.0825 against the U.S. dollar 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 2 percent from the central parity rate each trading day.
The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
Chinese yuan strengthens to 7.0825 against USD Friday
Airstrikes and explosions continued on Sunday, the 23rd day of the U.S.-Israel-Iran conflict, as Iran has warned of broader retaliation if U.S. targets its power facilities.
Explosions were heard in eastern and western Tehran on Sunday night, according to a China Media Group reporter. Footage from the reporter showed that Tehran's air defense system was continuously activating to intercept incoming projectiles.
The reporter also said that the sound of the air defense system in operation was heard in northeastern Tehran on Sunday afternoon.
On Sunday, Iran's primary military command, Khatam al-Anbiya Central Headquarters, issued a statement warning that power plants in countries hosting U.S. bases would be considered legitimate targets if the United States attacks Iran's power facilities.
The statement came in response to remarks by U.S. President Donald Trump threatening to target Iran's power infrastructure, according to Iranian state media Islamic Republic of Iran Broadcasting.
Trump threatened on Saturday to "hit and obliterate" Iranian power plants if the country fails to fully open the Strait of Hormuz within 48 hours.
The Strait of Hormuz has not been fully closed and remains under Iran's "smart control," with non-harmful transit continuing under specific regulations to ensure national security and interests, the statement from Khatam al-Anbiya Central Headquarters said.
If U.S. threats are carried out, Iran would immediately adopt several punitive measures, including the full closure of the Strait of Hormuz until damaged Iranian facilities are rebuilt, it said.
Other measures would include large-scale strikes on Israel's power, energy and communications infrastructure, attacks on regional companies with U.S. capital ties, and targeting power facilities in countries hosting U.S. military bases, the statement said, adding that Iran would take "all necessary measures" to defend its national interests.
On Sunday, Iran's President Masoud Pezeshkian said the Strait of Hormuz is open to all "except those who violate Iran's territory."
The Israel Defense Forces (IDF) said on Sunday that the Israeli military struck Iranian weapons production and storage facilities.
Iran warns of broader retaliation if U.S. targets its power facilities
