The central parity rate of the Chinese currency renminbi, or the yuan, weakened 340 pips to 6.8714 against the US dollar Monday (March 27), according to the China Foreign Exchange Trade System.
The yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day in China's spot foreign exchange market.
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.
Tag:·Chinese yuan· USD· weaken· Monday
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