China's Yuan Strengthens to 6.3138 against USD Friday-Shanghai Metals Market

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China's Yuan Strengthens to 6.3138 against USD Friday

Data Analysis 11:23:32AM Jan 20, 2012 Source:SMM

BEIJING, Jan. 20 (Xinhua) -- The Chinese currency Renminbi, or the yuan, strengthened 35 basis points to 6.3138 against the U.S. dollar on Friday, 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.

Key Words:  RMB   China foreign exchange  

China's Yuan Strengthens to 6.3138 against USD Friday

Data Analysis 11:23:32AM Jan 20, 2012 Source:SMM

BEIJING, Jan. 20 (Xinhua) -- The Chinese currency Renminbi, or the yuan, strengthened 35 basis points to 6.3138 against the U.S. dollar on Friday, 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.

Key Words:  RMB   China foreign exchange