Chinese yuan weakens to 7.1316 against USD Monday

BEIJING, July 29 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, weakened 46 pips to 7.1316 against the U.S. dollar Monday, 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. dolla