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China's Yuan Strengthens to 6.3889 Against USD on Thursday
Sep 8, 2011 17:22Source:SMM
The Chinese currency Renminbi, or the yuan, strengthened 79 basis points to 6.3889 per U.S. dollar on Thursday, according to the China Foreign Exchange Trading system.
BEIJING, Sept. 8 (Xinhua) -- The Chinese currency Renminbi, or the yuan, strengthened 79 basis points to 6.3889 per U.S. dollar on Thursday, 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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