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China's Yuan Advances to 6.3925 Against USD Tuesday
Aug 16,2011 09:53CST
industry news
Source:SMM
The Chinese currency Renminbi, or the yuan, gained 25 basis points to a record high of 6.3925 per U.S. dollar on Tuesday,

BEIJING, Aug. 16 (Xinhua) -- The Chinese currency Renminbi, or the yuan, gained 25 basis points to a record high of 6.3925 per U.S. dollar on Tuesday, 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 U.S. dollar is based on a weighted average of prices before the opening of the market each business day.

 

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