The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 45 pips to 6.7698 against the U.S. dollar Monday, 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 6.7698 against USD Monday
U.S. President Donald Trump said on Sunday that he expected war with Iran to end this year, possibly after midterm elections due in the United States in November.
"It'll end right after the midterms. Gasoline's going to drop like a rock," Trump told reporters during a visit to Ireland.
"Iran wants to make a deal so bad. They are calling constantly. They want to make a deal. They've got to make the right deal. I'm not going to make a deal that's no good," he said.
Trump said earlier on Wednesday that he believed the war with Iran would end "immediately" after the U.S. congressional midterm elections in November. On June 18, the United States and Iran signed a memorandum of understanding on ending the war in the region. Under the memorandum, they were scheduled to hold negotiations within 60 days, which ended on Aug. 17, to reach a final agreement, but the fate of the talks remains unclear following the recent escalation of hostilities between the two countries.
Trump expects war with Iran to end after US midterm elections
