Business / Finance

China yuan weakens to 6.1312 against USD Monday

(Xinhua) Updated: 2014-03-10 10:26

China yuan weakens to 6.1312 against USD Monday

A visitor walks past currency signs at an international finance exposition in Beijing. [Photo/China Daily]

BEIJING - The Chinese currency renminbi, or the yuan, went down 111 basis points to 6.1312 against the US dollar on Monday,

China yuan weakens to 6.1312 against USD Monday

A record year for foreign renminbi exchange  

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 US dollar is based on a weighted average of prices before the opening of the market each business day.

 

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