BUSINESS Chinese yuan weakens to 7.0879 against USD Friday

BUSINESS

Chinese yuan weakens to 7.0879 against USD Friday

Xinhua

13:12, August 30, 2019

BEIJING, Aug. 30 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, weakened 21 pips to 7.0879 against the U.S. dollar Friday, 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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