The Chinese currency, the renminbi or the yuan, continued to slip Friday weighed on by a rebound of the greenback.

The central parity rate of the yuan weakened 84 basis points to 6.6369 against the U.S. dollar, the fifth straight day of declines, according to the China Foreign Exchange Trade System. Onshore and offshore rates also softened.

Analysts mainly attributed the losing streak to a strong U.S. dollar, which, despite retreating mildly Thursday, remained in a solid position propped up by encouraging short-term economic indicators and U.S. tax reduction plans.

Meanwhile, the yuan is in the middle of an adjustment after hitting a new year-plus high at the beginning of this month.

The fine-tuning of foreign exchange management by the People's Bank of China and rising demand for foreign currencies from domestic businesses also contributed to the yuan's weak performance.

But given the resilient Chinese economy, the downward room is also limited.

"The currency will not face huge depreciation pressures and is likely to see more two-way fluctuations for the remainder of the year," Founder Securities said in a research note.

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.