Briefly

Yuan weakens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 23 pips to 7.2110 against the US dollar on Monday, said 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 greenback is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

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