The central parity rate of the Chinese currency renminbi, or the yuan, weakened 10 pips to 7.0928 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 is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
Chinese yuan weakens to 7.0928 against USD Friday
Canadian Prime Minister Mark Carney arrived in Beijing on Wednesday for an official visit to China through Saturday.
This visit marks the first trip to China by a Canadian Prime Minister in eight years.
When briefing on the visit of Carney, a Chinese foreign ministry spokesperson said President Xi Jinping will meet with the Canadian prime minister to provide new strategic guidance for further improving and developing China-Canada relations.
Chinese Premier Li Qiang and Chairman of China's National People's Congress Standing Committee Zhao Leji will hold separate talks and meetings with the Canadian prime minister to conduct comprehensive and in-depth exchanges on bilateral relations as well as issues of mutual interest.
The spokesperson said China looks forward to taking this visit as an opportunity to enhance dialogue and communication, increase political mutual trust, expand practical cooperation, properly manage differences, address each other's concerns and consolidate the momentum of improvement in China-Canada relations to bring greater benefit for the two peoples.
Canadian PM arrives in Beijing for official visit
