Chinese yuan weakens to 7.0760 against USD Friday-Xinhua
FRI 2023 26 MAY 09:49:AM (GMT: FRI 2023 26 MAY 02:49:AM)
XINHUA
BEIJING, May 26 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, weakened 231 pips to 7.0760 against the U.S. dollar Friday, according to the China Foreign Exchange Trade System.
In China''s spot foreign exchange market, the yuan is allowed to rise or fall by 2 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 offered by market makers before the opening of the interbank market each business day. ■