BEIJING, Nov. 27 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, weakened 5 pips to 7.0349 against the U.S. dollar Wednesday, 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 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.