Yuan weakens against US dollar

The central parity rate of the renminbi, or the yuan, weakened 51 basis points to 6.8896 against the US dollar on 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 US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day. fessionals” is what drove the company into the Chinese market. Measures to boost its presence have included allowing users to bind their LinkedIn accounts with those on Chinese mobile app WeChat, as well as working with Alibaba’s financial affiliate Ant Financial. A variety of other related activities and products, including a mobile version specially designed for Chinese users, have been developed. semiconductors. Operating profit was 9.9 trillion won ($8.77 billion) in the January-March quarter, up 48.27 percent from a year earlier. From the previous quarter, the profit increased 7.35 percent. The figure was the largest except Samsung’s record high of 10.16 trillion won in operating profit, which was tallied in the third quarter of 2013. Revenue added 1.54 percent from a year earlier to 50.55 trillion won in the March quarter, but net income surged 46.29 percent to 7.68 trillion won. The majority of Samsung’s firstquarter earnings was generated in the chipmaking unit, which posted 6.31 trillion won of operating profit on revenue of 15.66 trillion won.