Chinese yuan weakens to 7.1182 against the dollar on Wednesday

BEIJING, Sept. 11 (Xinhua) — The central parity rate of China’s currency renminbi, or yuan, fell 46 pips to 7.1182 against the U.S. dollar on Wednesday, according to the China Foreign Exchange Trade System.

In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2% relative to the central parity rate each trading day.

The central parity rate of the yuan against the US dollar is based on a weighted average of prices quoted by market makers before the interbank market opens each business day.