Chinese yuan weakens to 7.1342 against USD Wednesday-Xinhua

Chinese yuan weakens to 7.1342 against USD Wednesday

Source: Xinhua

Editor: huaxia

2024-07-10 10:11:00

BEIJING, July 10 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, weakened 32 pips to 7.1342 against the U.S. dollar Wednesday, 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.