Chinese Yuan Weakens to 6.9498 against USD Tuesday
Chinese currency
Beijing - QNA
The central parity rate of the Chinese currency renminbi, or the yuan, weakened 128 basis points to 6.9498 against the U.S. dollar Tuesday, according to the China Foreign Exchange Trading System.
In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2% from the central parity rate each trading day, China's News Agency (Xinhua) 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.
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