China's Yuan Weakens to 6.2991 against USD Thursday-Shanghai Metals Market

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China's Yuan Weakens to 6.2991 against USD Thursday

Data Analysis 01:17:51PM Feb 16, 2012 Source:SMM

BEIJING, Feb. 16 -- The Chinese currency Renminbi, or the yuan, weakened 33 basis points to 6.2991 against the U.S. dollar on 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.

Key Words:  Chinese currency   US dollar   RMB 

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China's Yuan Weakens to 6.2991 against USD Thursday

Data Analysis 01:17:51PM Feb 16, 2012 Source:SMM

BEIJING, Feb. 16 -- The Chinese currency Renminbi, or the yuan, weakened 33 basis points to 6.2991 against the U.S. dollar on 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.

Key Words:  Chinese currency   US dollar   RMB