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China Yuan Weakens against USD May 13

iconMay 13, 2013 10:34
Source:SMM
The Chinese currency Renminbi, or yuan, weakened 56 basis points to 6.2072 against the U.S. dollar on Monday.
BEIJING, May 13 -- The Chinese currency Renminbi, or yuan, weakened 56 basis points to 6.2072 against the U.S. dollar on Monday, 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 currency Renminbi
China's foreign exchange

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