Chinese yuan weakens to 7.1102 against USD Friday

BEIJING, May 24 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, weakened 4 pips to 7.1102 against the U.S. dollar Friday, 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 from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar