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China's yuan weakens
Tags : Beijing, Chinese yuan, China Foreign Exchange Trading System
Monday, Jun 16 2014 9:35AM IST
China's yuan weakens
Beijing: The Chinese yuan weakened 34 basis points to 6.1537 against the US dollar in its central parity Monday, according to the China Foreign Exchange Trading System.

In China's foreign exchange spot market, the yuan is allowed to rise or fall by two percent from the central parity rate each trading day, as per reported.

The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.