The Chinese currency Renminbi, or the yuan, weakened 32 basis points to 6.1663 against the U.S. dollar on Monday, according to the China Foreign Exchange Trading System.[HK Corporate Registration]

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.[Hong Kong Company Formation, Incorporation, Business Registration]

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.