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A clerk counts currency at a Bank of China Ltd branch in Nanchong, Sichuan province. The yuan has depreciated almost 1 percent against the dollar since Feb 17. [Photo/Xinhua] |
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 US dollar is based on a weighted average of prices before the opening of the market each business day.
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