The central parity rate of the Chinese currency renminbi, or the yuan, weakened 41 pips to 6.8198 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.
Chinese yuan weakens to 6.8198 against USD Monday
Chinese stocks closed lower on Monday, with the benchmark Shanghai Composite Index down 1.7 percent to 3,959.34 points.
The Shenzhen Component Index closed 3.22 percent lower at 14,821.19 points.
The combined turnover of stocks covered by these two indices reached 2.79 trillion yuan (about 409.54 billion U.S. dollars), down from 3.07 trillion yuan on the previous trading day.
Computing hardware, semiconductor chips and non-ferrous metals stocks suffered major losses, while engineering machinery, oil and gas, and banking sectors notched gains.
The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, lost 3.69 percent to close at 3,811.79 points Monday.
Chinese shares close lower Monday
