BEIJING, June 28 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 31 basis points to 6.8747 against the US dollar on Friday, according to the China Foreign Exchange Trade System.

(File photo: VCG)

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.