China's yuan weakens 49 basis points to hit 6.4886 per USD Thursday

The Chinese currency Renminbi, or the yuan,weakened 49 basis points to hit 6.4886 per U.S. dollar on Thursday, according to the China Foreign Exchange Trading system.


The yuan's central parity rate reached an all-time high of 6.4837 per U.S. dollar on Wednesday.


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)