Chinese yuan weakens to 7.1248 against USD Wednesday

BEIJING, June 26 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, weakened 23 pips to 7.1248 against the U.S. dollar Wednesday, according to the China Foreign Exchange Trade System.

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.

The central parity rate of the yuan against the U.S. do