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Currency News

Chinese yuan weakens to 6.7296 against USD

BEIJING - The central parity rate of the Chinese currency renminbi, or the yuan, weakened 38 basis points to 6.7296 against the US dollar Thursday, according to the China Foreign Exchange Trading 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 US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

original source: http://www.chinadaily.com.cn/business/2016-10/13/content_27049678.htm

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