Yuan weakens against greenback

Business | 10 May 2017 10:10 am

The central parity rate of the yuan, weakened by 29 basis points to 6.9066 against the U.S. dollar today, according to the China Foreign Exchange Trade System, Xinhua reports.

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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