Chinese yuan weakens to 6.6579 against USD Friday

An employee at a bank counter in Nantong, East China's Jiangsu province, counts renminbi and dollars. [Photo/China Daily]

BEIJING - The central parity rate of the Chinese currency renminbi, or the yuan, weakened 54 basis points to 6.6579 against the US dollar Friday, according to the China Foreign Exchange Trade System.

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

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.