China's yuan weakens 15 basis points to 6.4998 per USD Monday

The Chinese currency Renminbi, or the yuan, weakened 15 basis points to 6.4998 per U.S. dollar on Monday, snapping the streak of appreciation for three consecutive trading days, according to the China Foreign Exchange Trading system.


It hit a new high of 6.4948 per U.S. dollar on May 11.


On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.


The central parity rate of the RMB against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.
(Source:http://news.xinhuanet.com)