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China's Yuan Advances to Record High of 6.3735 Against U.S. Dollar
Sep 26, 2011 15:59Source:SMM
The Chinese currency Renminbi, or the yuan, gained 105 basis points to a record high of 6.3735 per U.S. dollar on Monday, according to the China Foreign Exchange Trading system.
BEIJING, Sept. 26 (Xinhua) -- The Chinese currency Renminbi, or the yuan, gained 105 basis points to a record high of 6.3735 per U.S. dollar on Monday, 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.
Yuan against the dollar
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