Business / Finance

China yuan weakens to 6.1224 against USD Thursday

(Xinhua) Updated: 2014-02-27 10:10

China yuan weakens to 6.1224 against USD Thursday

BEIJING - The Chinese currency renminbi, or the yuan, weakened 32 basis points to 6.1224 against the US dollar on Thursday, according to the China Foreign Exchange Trading System.

 China yuan weakens to 6.1224 against USD Thursday

A record year for foreign renminbi exchange 

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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Yuan's devaluation message

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