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Chinese Yuan Further Weakens to 6.2945 against USD

iconNov 16, 2012 15:57
Source:SMM
The Chinese currency renminbi, or the yuan, weakened 40 basis points to 6.2945 against the US dollar on Friday.

Updated: 2012-11-16 10:15 ( Xinhua) - The Chinese currency renminbi, or the yuan, weakened 40 basis points to 6.2945 against the US dollar on Friday, according to the China Foreign Exchange Trading System.'

In China's foreign exchange spot market, the yuan is allowed to rise or fall by 1 percent from the central parity rate each trading day.

The central parity rate of the yuan against the US dollar is based on a weighted average of prices before the opening of the market each business day.
 

Chinese yuan
US dollar

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