Chinese yuan weakens to 6.9695 against USD Monday

The central parity rate of the Chinese currency renminbi, or the yuan, weakened 17 pips to 6.9695 against the U.S. dollar Monday, 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.

Aid workers and civilians in the Gaza Strip have expressed their doubt on the Board of Peace proposed by U.S. President Donald Trump in improving the situation in the enclave, as they are continuing to see restricted aid entry and experiencing prolonged hardships.

Trump in January announced the creation of the Board of Peace for Gaza as the Gaza peace deal hammered out in October enters its second phase.

Trump previously proposed the establishment of the Board of Peace as part of a 20-point peace plan to end the latest round of the Israel-Hamas conflict in the Gaza Strip.

Under the ceasefire deal reached in October, the board is meant to support stability, governance, demilitarization and reconstruction in Gaza during the plan's second phase.

Meanwhile, aid agencies in Gaza said progress remained uneven, and they warned that access constraints, inconsistent distribution, and ongoing insecurity were continuing to limit the impact of humanitarian assistance, while civilians were facing prolonged displacement and shortages of basic services.

"More than 100 days into the ceasefire, we yet have to achieve the necessary unhindered flow of assistance and reliable distribution for the people in Gaza. While conditions have marginally improved for the civilian population, they continue to face death, destruction, shortages in shelter items and medicine," said Amani Al Naouq, a spokesperson of the International Committee of the Red Cross (ICRC ) in Gaza.

As U.S. officials are promoting ambitious redevelopment plans for Gaza, displaced Palestinians say their daily life remains dominated by widespread destruction, with thousands of tonnes of rubble still uncleared and Israeli military operations continuing in parts of the Strip.

"All these news we hear is useless. Nothing is implemented. On the contrary, conditions here are getting worse day by day. For us, the war has never stopped, we still live with bombardments and fear, and we still cannot return to our areas. So where is the peace they are talking about? There is none. It's just words," said Rajaa Shakha, a displaced Palestinian.

International humanitarian organizations are also raising concerns that proposed changes to aid coordination could sideline long-standing United Nations (UN) agencies in Gaza, potentially weakening a system that has supported civilians in the Strip for decades.

"With regard to UN agencies in Gaza, the Palestinian population largely depends on humanitarian assistance provided by these organizations, particularly by the UN bodies such as the UNRWA (the United Nations Relief and Works Agency for Palestine Refugees in the Near East), the WFP (the World Food Program), and UNICEF (the United Nations Children's Fund). If these institutions were to stop operating, the crisis would worsen far beyond its current state," said Dhafer Mushtaha, a project manager for IHH Humanitarian Relief Foundation in Gaza.