Briefly

Renminbi weakens against greenback

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 113 pips to 7.0983 against the US dollar on Thursday, 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 against dollar from the central parity rate each trading day.

Banks report forex settlement deficit

China's commercial banks saw a net forex settlement deficit of 8.7 billion yuan ($1.23 billion) in August, official data showed. In yuan terms, forex purchases by banks reached nearly 1.36 trillion yuan, while sales stood at about 1.37 trillion yuan, data from the State Administration of Foreign Exchange showed. China's cross-border capital flow has become more stable, with domestic foreign exchange supply and demand generally balanced.

Xinhua - China Daily