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1st LD-Writethru: Chinese yuan weakens to 6.7832 against USD Wednesday

Xinhua, November 9, 2016 Adjust font size:

The central parity rate of the Chinese currency renminbi, or the yuan, weakened mildly against the U.S. dollar Wednesday ahead of the results of the U.S. presidential election.

The central parity rate of the Chinese currency, the renminbi or the yuan, weakened 15 basis points to 6.7832 against the U.S. dollar Wednesday, according to 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. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

The greenback Tuesday rallied against several major currencies after the Federal Bureau of Investigation (FBI) cleared Democratic presidential nominee Hillary Clinton over her use of a private email server, as investors await the presidential election results.

China's foreign exchange reserves fell to 3.12 trillion dollars as of the end of October, down 45.7 billion dollars from a month earlier, as a stronger dollar accounted for much of the change. Endi