Chinese yuan weakens, trading at 6.8835 to 1 US dollar

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The Chinese currency’s central parity rate, or yuan, fell 83 pips to 6.8835 against the US dollar.

This was announced on Monday by the China Foreign Exchange Trade System.

Each trading day in China’s spot foreign exchange market, the yuan can climb or fall by 2% from the central parity rate.

The central parity rate of the yuan versus the dollar is determined by a weighted average of prices given by market makers prior to the start of the interbank market each business day.

(Xinhua/NAN)

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