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Home / Metal News / Yuan Retreats to 6.3115 Against USD

Yuan Retreats to 6.3115 Against USD

iconFeb 1, 2012 09:59
Source:SMM
The Chinese currency Renminbi, or the yuan, lost 59 basis points to 6.3115 against the US dollar on Tuesday, according to the China Foreign Exchange Trading System.

BEIJING - The Chinese currency Renminbi, or the yuan, lost 59 basis points to 6.3115 against the US 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 US dollar is based on a weighted average of prices before the opening of the market each business day.


 

yuan
US dollar
foreign exchange
central parity rate

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