China Yuan Weakens to 6.1675 against USD

Beijing, July 31 (QNA) – The value of the Chinese currency renminbi, or the yuan, weakened by 30 basis points to 6.1675 against the U.S. dollar in its central parity on Thursday, 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 percent from the central parity rate each trading day, according to China’s (Xinhua) News Agency.

The central parity rate of the yuan against the U.S. 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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