News Column

China Yuan Weakens to 6.1103 against USD Wednesday

February 19, 2014

Beijing, February 19 (QNA) - The value of the Chinese currency Renminbi, or the yuan, weakened 30 basis points to 6.1103 against the US dollar on Wednesday, according to the China Foreign Exchange Trading System.

In China's foreign exchange spot market, the yuan is allowed to rise or fall by 1% from the central parity rate each trading day, according to China's (Xinhua) News Agency.

The central parity rate of the yuan against the US dollar is based on a weighted average of prices before the opening of the market each business day. (QNA)

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Source: Qatar News Agency

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