China's yuan weakens against US dollar

Beijing: The Chinese currency renminbi or yuan retreated 32 basis points to 6.1728 against the US dollar Friday, 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 percent from the central parity rate each trading day, reports Xinhua.

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.

IANS