Beijing [China], March 25 (ANI): On the second Consecutive day, the central parity rate of the Chinese currency renminbi, or the yuan, weakened 99 pips to 6.3739 against the US dollar on Friday, according to the China Foreign Exchange Trade System.

Yesterday, it was weakened 82 pips to 6.364 against the US dollar.

Also Read | Russia-Ukraine War: UNGA Adopts Resolution on Humanitarian Situation in Ukraine, 140 Countries Vote in Favour While India Abstains.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by 2 per cent from the central parity rate each trading day, Xinhua News Agency reported.

The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day, it added. (ANI)

Also Read | Russia-Ukraine War: G7 Restricting Russian Central Bank’s Use of Gold in Transactions.

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)