China yuan weakens against USD Friday

BY    2013-05-12 11:00:59

  BEIJING, May 10 (Xinhua) -- The Chinese currency Renminbi, or yuan, fell 91 basis points to 6.2016 against the U.S. dollar on Friday, according to the China Foreign Exchange Trading System.

  The figure ended the record high of 6.1925 against the U.S. dollar on Thursday

  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.

  The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.

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