Beijing: The China Foreign Exchange Trade System has announced the central parity rates of the Chinese currency, renminbi or the yuan, against 25 major currencies. The rates were released on Friday and provide insights into the current market exchange values for November 21.

According to Namibia Press Agency, the central parity rate of the yuan against the U.S. dollar is determined by a weighted average of prices provided by market makers before the interbank market opens each business day. On this occasion, the yuan is set at 708.75 per 100 U.S. dollars. For the euro, the rate is at 818.26 yuan per 100 euros.

Other notable rates include 4.5124 yuan per 100 Japanese yen, 91.03 yuan per 100 Hong Kong dollars, and 928.57 yuan per 100 British pounds. The yuan’s rate against the Australian dollar is 457.80 per 100 units, while it stands at 396.84 for the New Zealand dollar and 543.09 for the Singapore dollar.

Additionally, the yuan is set at 881.01 per 100 Swiss francs and 503.86 per 100 Canadian dollars. The rates for the Pataca, Malaysian ringgit, and the ruble are 113.20, 58.552, and 1,124.85 per 100 units, respectively. The South African rand is pegged at 242.66, and the Korean won at 20,722 per 100 units.

For the currencies from the Middle East, the yuan is valued at 51.725 per 100 UAE dirhams and 52.805 per 100 Saudi riyals. European currencies like the Hungarian forint and Polish zloty are set at 4,668.63 and 51.731 per 100 units, respectively.

Furthermore, the parity rate is 91.31 yuan per 100 Danish kroner, 134.47 per 100 Swedish krona, and 143.80 per 100 Norwegian kroner. The Turkish lira is pegged at 597.516, the Mexican peso at 258.99, and the Thai baht at 456.25 per 100 units. The methodology for determining these rates involves an average of prices offered by market makers before the opening of the interbank foreign exchange market.