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China's yuan trades lower against US dollar

IANS  |  Beijing 

The central parity rate of the Chinese renminbi, or the yuan, weakened 414 basis points to 6.7495 against the US dollar on Monday, according to the Foreign Exchange Trade System.

In China's spot foreign exchange market, the is allowed to rise or fall by 2 per cent from the central parity rate each trading day, reported.

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

--IANS

vin/

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, February 11 2019. 07:36 IST
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