Briefly

Renminbi weakens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 130 pips to 7.1358 against the US dollar on Friday, 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.

Central bank conducts reverse repos

China's central bank conducted 379.3 billion yuan ($53.15 billion) of seven-day reverse repos at an interest rate of 1.7 percent on Friday. The move aims to keep liquidity reasonable and ample in the banking system, the People's Bank of China said.

Xinhua - China Daily