China yuan retreats against USD Monday

BEIJING, Jan. 21 (Xinhua) -- The Chinese currency Renminbi, or yuan, lost 38 basis points to 6.2790 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.

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