The central parity rate of the Chinese currency, the renminbi or the yuan, weakened mildly against the U.S. dollar and weakened sharply against the British pound after a British court ruling on Brexit.
The yuan weakened 23 basis points to 6.7514 against the dollar, 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 dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
The sterling rallied against the yuan and other major currencies Friday following a ruling by England's High Court that has cast uncertainties over the Brexit plan.
The court ruled that the British government needs parliamentary approval to trigger Britain's exit from the European Union.
The yuan weakened by 1,130 basis points to 8.4193 against the British pound Friday.
Latest comments