China’s foreign exchange spot market

The Chinese currency Renminbi, or the yuan, weakened against the U.S. dollar Monday.

The central parity rate of the yuan weakened by 20 basis points to stand at 6.2985 against the U.S. dollar on Monday, according to the China Foreign Exchange Trading System.

In China’s foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the central parity rate each trading day.

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