China Yuan Weakens to 6.1557 against USD

Beijing, June 23 (QNA) – The value of the Chinese currency renminbi, or the yuan, weakened 33 basis points to 6.1557 against the US dollar in its central parity on Monday, according to the China Foreign Exchange Trading System.

In China’s foreign exchange spot market, the yuan is allowed to rise or fall by 2% from the central parity rate each trading day, according to China’s (Xinhua) News Agency.

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. (QNA)

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