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Home / Metal News / China's Yuan Weakens to 6.3570 Against USD Thursday

China's Yuan Weakens to 6.3570 Against USD Thursday

Nov 24, 2011 10:22

Source:SMM

The Chinese currency Renminbi, or the yuan, lost 72 basis points to 6.3570 against the U.S. dollar Thursday, according to the China Foreign Exchange Trading System.

BEIJING, Nov. 24 (Xinhua) -- The Chinese currency Renminbi, or the yuan, lost 72 basis points to 6.3570 against the U.S. dollar 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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