China's Yuan Strengthens to 6.3027 Against USD Wednesday-Shanghai Metals Market

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China's Yuan Strengthens to 6.3027 Against USD Wednesday

Data Analysis 11:14:50AM Feb 08, 2012 Source:SMM

BEIJING, Feb. 8 (Xinhua) -- The Chinese currency Renminbi, or the yuan, gained 89 basis points to 6.3027 against the U.S. dollar on Wednesday, 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:  China Yuan 

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China's Yuan Strengthens to 6.3027 Against USD Wednesday

Data Analysis 11:14:50AM Feb 08, 2012 Source:SMM

BEIJING, Feb. 8 (Xinhua) -- The Chinese currency Renminbi, or the yuan, gained 89 basis points to 6.3027 against the U.S. dollar on Wednesday, 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:  China Yuan