BUSINESS Chinese yuan weakens to 6.8862 against USD Tuesday

BUSINESS

Chinese yuan weakens to 6.8862 against USD Tuesday

Xinhua

10:20, July 30, 2019

BEIJING, July 30 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, weakened 41 pips to 6.8862 against the U.S. dollar Tuesday, according to the China Foreign Exchange Trade System.

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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 U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

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