The Chinese currency Renminbi, or yuan, lost 23 basis points to 6.2609 against the US dollar on Wednesday, the China Foreign Exchange Trading System reported. In China’s foreign exchange spot market, the yuan is allowed to rise or fall by 1% from the central parity rate each trading day, according to (Xinhua) news agency. The central parity rate of the yuan against the US dollar is based on a weighted average of prices before the opening of the market each business day.