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China Yuan Weakens against USD Friday
Feb 22,2013 09:53CST
industry news
Source:SMM
The Chinese currency Renminbi, or yuan, lost 25 basis points to 6.2871 against the U.S. dollar on Friday, according to the China Foreign Exchange Trading System.

BEIJING, Feb. 22 (Xinhua) -- The Chinese currency Renminbi, or yuan, lost 25 basis points to 6.2871 against the U.S. 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 U.S. dollar is based on a weighted average of prices before the opening of the market each business day.


 

Chinese yuan
China Foreign Exchange Trading System

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