Chinese yuan weakens to 6.1513 against US dollar on Monday

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China's central bank is probably reminding traders that the yuan is not a one-way bet
China's central bank is probably reminding traders that the yuan is not a one-way bet

The central parity rate of the Chinese currency renminbi, or the yuan, weakened by 38 basis points to 6.1513 against the U.S. dollar on Monday, according to the China Foreign Exchange Trading System.

China's central bank is probably reminding traders that the yuan is not a one-way bet
China’s central bank is probably reminding traders that the yuan is not a one-way bet

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. Enditem

Source; Xinhua

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