Chinese yuan weakens to 7.1460 VS USD

The central parity rate of Chinese yuan weakened 74 pips to 7.1460 against the US dollar (USD)Thursday, according to the China Foreign Exchange Trade System.

This sets the daily trading band for the yuan, allowing it to fluctuate by 2 per cent above or below the central parity rate.

The central parity rate of the yuan against the greenback is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

Attribution: Xinhua