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Chinese yuan weakens

  •   Wed, Nov 23 2016 09:22:50 AM

Beijing, Nov 23 (IANS): The Chinese currency yuan, weakened 125 basis points to 6.8904 against the US dollar on Wednesday, according to the China Foreign Exchange Trading System.

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

The central parity rate of the yuan 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.
  

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