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Yuan weakens to 6.2943 USD Friday

(Xinhua)

10:57, March 30, 2012

BEIJING, March 30 (Xinhua) -- The Chinese currency Renminbi, or the yuan, weakened to 6.2943 against the U.S. dollar on Friday, 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.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.

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