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China's Yuan Weakens Against USD Tuesday
Nov 1,2011 09:36CST
industry news
Source:SMM
The Chinese currency Renminbi, or the yuan, weakened 60 basis points to 6.3293 against the U.S. dollar on Tuesday, according to the China Foreign Exchange Trading system.

BEIJING, Nov. 1 (Xinhua) -- The Chinese currency Renminbi, or the yuan, weakened 60 basis points to 6.3293 against the U.S. dollar on Tuesday, 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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