The central parity rate of the Chinese currency Renminbi, or the yuan, weakened 261 pips to 7.2056 against the dollar on Monday, according to the China Foreign Exchange Trade System.
In China’s spot foreign exchange market, the yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the inter-bank market each business day.
