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China's yuan rises to new high against USD
Source: Xinhua |
February 10, 2012, Friday
|
Online Edition
Online Edition
THE Chinese currency Renminbi, or the yuan, rose to a new high against the dollar today.
It strengthened by 72 basis points to stand at 6.2937 against the US dollar today, according to the China Foreign Exchange Trading System.
In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 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 before the opening of the market each business day.
It strengthened by 72 basis points to stand at 6.2937 against the US dollar today, according to the China Foreign Exchange Trading System.
In China's foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 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 before the opening of the market each business day.
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