Chinese yuan weakens to ¥6.8679 against dollar

Chinese Yuan and American Dollar used to illustrate the story

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 73 pips to ¥6.8679 against the dollar on Monday.

The China Foreign Exchange Trade System disclosed this, noting that 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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