The central parity rate of the Chinese currency renminbi, or the yuan, weakened 11 pips to 6.7840 against the U.S. dollar Thursday, 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 6.784 against USD Thursday
International gold and silver prices declined on Wednesday, as stronger-than-expected U.S. inflation data reinforced expectations of a Federal Reserve rate hike next month, boosting the dollar and pressuring precious metals.
On the New York Mercantile Exchange, gold futures for December delivery fell 0.88 percent to settle at 4,653.30 U.S. dollars per ounce, while silver futures for September delivery dropped 0.96 percent to close at 68.026 dollars per ounce.
The declines came after the U.S. personal consumption expenditures (PCE) price index for July, released on Wednesday, pointed to persistent inflationary pressures, prompting traders to increase their bets on a rate increase at the Fed's September meeting.
Gold, silver prices fall on US inflation data, rate hike bets
