Chinese yuan weakens, now ¥6.8835 to $1
The central parity rate of the Chinese currency renminbi, or the yuan, weakened 83 pips to ¥6.8835 against the dollar.
The China Foreign Exchange Trade System announced this on Monday.
In China’s spot foreign exchange market, the yuan can rise or fall by two per cent from the central parity rate each trading day.
The yuan’s central parity rate against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
(Xinhua/NAN)
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