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Home / Metal News / China's Yuan Weakens to 6.296 Against USD Tuesday

China's Yuan Weakens to 6.296 Against USD Tuesday

iconFeb 21, 2012 15:26
Source:SMM
The Chinese currency Renminbi, or the yuan, weakened 22 basis points to 6.296 against the U.S. dollar on Tuesday, according to the China Foreign Exchange Trading System.

BEIJING, Feb. 21 (Xinhua) -- The Chinese currency Renminbi, or the yuan, weakened 22 basis points to 6.296 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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