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    China yuan weakens to 6.1312 against USD Monday

    (Xinhua) Updated: 2014-03-10 10:26

    China yuan weakens to 6.1312 against USD Monday

    A visitor walks past currency signs at an international finance exposition in Beijing.?[Photo/China Daily]

    BEIJING - The Chinese currency renminbi, or the yuan, went down 111 basis points to 6.1312 against the US dollar on Monday,

    China yuan weakens to 6.1312 against USD Monday

    A record year for foreign renminbi exchange??

    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.

    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.

     

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