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Chinese yuan weakens against U.S dollar



Chinese yuan weakens against U.S dollar

The central parity rate of the Chinese currency renminbi, or yuan, weakened 142 pips to 6.4032 against the US dollar, USD, on Friday, according to China’s Forex Trading System.

In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2% against the central parity rate on each trading day.

The central parity rate of the yuan against the US dollar is based on a weighted average of the prices offered by market makers before the interbank market opens on each business day.

Xinhua / NAN

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