The central parity rate of the Chinese currency renminbi, or the Yuan, weakened 72 Pips to 7.1982 against the dollar on Wednesday.
This is according to the China Foreign Exchange Trade System.
In China, 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.
The Yuan is also allowed to rise or fall by two per cent from the central parity rate each trading day in the spot foreign exchange market of the country.(Xinhua/NAN)
