China yuan weakens against USD Monday

BEIJING, Dec. 3 (Xinhua) -- The Chinese currency Renminbi, or yuan, weakened 16 basis points to 6.2908 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 1 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.

Recommended Features: Vibrant Opportunities amid Transition From 'Made in China' to 'Created in China' A Journey to Cultural Renaissance The Vision of A Pillar Industry China: A Fast-growing Force in IPR A Splendorous Landscape of China's Wealth A Decade of Fastest Development Eastern Boom Lightens Western Gloom Chinese firms 'potential Trojan horses'？