Chinese yuan weakens to 6.8759 against USD Monday
South Asia
The central parity rate of the Chinese currency renminbi, or the yuan, weakened 124 basis points to 6.8759 against the U.S. dollar 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 2 percent from the central parity rate each trading day.
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.
The following are the central parity rates of the Chinese currency renminbi, or the yuan, against 24 major currencies announced on Monday by the China Foreign Exchange Trade System:
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.
The central parity rate of the yuan against the Hong Kong dollar is based on the central parity rate of the yuan against the U.S. dollar and the exchange rate of the Hong Kong dollar against the U.S. dollar at 9 a.m. in international foreign exchange markets on the same business day.
The central parity rates of the yuan against the other 22 currencies are based on the average prices offered by market makers before the opening of the interbank foreign exchange market.
Chinese yuan weakens last week
China's yuan weakened against a basket of currencies last week, according to the China Foreign Exchange Trade System (CFETS).
The CFETS yuan exchange rate composite index, which measures the yuan's strength relative to a basket of currencies, came in at 92.99 on Friday, down 0.18 points from a week earlier, according to the CFETS.
The index compares the yuan to the value of 24 currencies, including the U.S. dollar, euro and Japanese yen.
Last week also saw an index that measures the yuan against the Bank for International Settlements currency basket down 0.2 points to 96.4.
The index measuring the yuan against the Special Drawing Rights basket went down 0.05 points to 93.43.
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