On Monday, the Chinese currency’s central parity rate, the Yuan, fell 340 basis points to 6.8714 against the US dollar.
According to the China Foreign Exchange Trade System, this is the case.
Each trading day in China’s spot foreign exchange market, the Yuan is allowed to rise or fall by 2% from the central parity rate.
The central parity rate of the Yuan against the dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. (Xinhua/NAN)