China's yuan weakens to 6.168 against USD on Sept 1

The value of the Chinese currency renminbi, or the yuan, retreated 33 basis points to 6.168 against the US dollar in its central parity 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 2 percent from 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 offered by market makers before the opening of the interbank market each business day.