Chinese Yuan Falls to 6.8908 Against US Dollar
Chinese Yuan. (Photo Credit: Pixabay)

Beijing, December 17: The central parity rate of the Chinese currency renminbi, or the yuan, weakened 158 basis points to 6.8908 against the US dollar Monday, 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, Xinhua news agency reported. China Pumps USD 109 Bn into Economy as Trade War Bites Growth Numbers.

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.