The Chinese currency Renminbi, or yuan, strengthened 17 basis points to 6.2695 against the U.S. dollar on Monday, according to the China Foreign Exchange Trading System.[Offshore Company Incorporation]

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.

The central parity rate of the yuan against the U.S.[HongKong Richful  - Hong Kong Company Formation, Offshore Company Incorporation] dollar is based on a weighted average of prices before the opening of the market each business day.