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Chinese yuan weakens against US dollar

IANS  |  Beijing 

The central parity rate of the Chinese renminbi, or the yuan, weakened 42 basis points to 6.7954 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.



(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Mon, May 13 2019. 07:36 IST