Chinese Yuan Weakens to 4-year Low against USD
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The central parity rate of the renminbi on Monday weakened for the sixth consecutive day to its lowest level against the U.S. dollar since July 2011.

The yuan weakened by 137 basis points to 6.4495.

The correction came after the Chinese currency had appreciated nearly three percent against the U.S. dollar as of November, compared with the end of last year.

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

Author： 　　　Source：CRI　　　 Editor：Yang Fan