CHINA Chinese yuan weakens to 6.6727 against USD Friday

CHINA

Chinese yuan weakens to 6.6727 against USD Friday

Xinhua

10:21, July 13, 2018

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 1 basis points to 6.6727 against the U.S. dollar Friday, according to the China Foreign Exchange Trade System.

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(File photo)

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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