The Chinese currency Renminbi, or yuan, weakened 43 basis points to 6.1947 against the U.S. dollar on Thursday, according to the China Foreign Exchange Trading System.[Hong Kong Company Formation]

In China's foreign exchange spot market, the yuan is allowed to rise or fall by 1 percent from the central parity rate each trading day.[Offshore Company Incorporation]

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.