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China's Yuan Weakens to 6.3996 against USD Wednesday
Aug 17, 2011 10:27Source:SMM
The Chinese currency Renminbi, or the yuan, weakened 71 basis points to 6.3996 per U.S. dollar on Wednesday
BEIJING, Aug. 17 (Xinhua) -- The Chinese currency Renminbi, or the yuan, weakened 71 basis points to 6.3996 per U.S. dollar on Wednesday, according to the China Foreign Exchange Trading system.
In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 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 before the opening of the market each business day.
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