Chinese yuan weakens to 7.1196 against dollar
The central parity rate of the Chinese currency renminbi, or the yuan, weakened 121 pips to 7.1196 against the dollar on Wednesday, according to the China Foreign Exchange Trade System.
In China’s spot foreign exchange market, the yuan is allowed to rise or fall by two percent from the central parity rate each trading day.
The central parity rate of the yuan against the dollar is based on weighted average prices offered by market makers before the opening of the interbank market each business day.
(Xinhua/NAN)
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