The Chinese currency, or the yuan, on Monday weakened 38 basis points to 6.5618 per U.S. dollar from Friday.

On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.

The central parity rate of the RMB against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.