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The central parity rate of the Chinese currency renminbi, or the yuan, weakened 73 pips to 7.1338 against the U.S Dollar.
This is according to the China Foreign Exchange Trade System
on Friday.
A shocking drop in value after it gained over the dollar recently.
The central parity rate of the yuan against the American
dollar is based on a weighted average of prices offered by market makers before
the opening of the interbank market each business day.
In China’s spot foreign exchange market, the Chinese
currency, Yuan, is allowed to rise or fall by two per cent from the central
parity rate each trading day.
Xinhua/NAN
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