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China Yuan Falls to 6.3359 against USD Thursday
Mar 15,2012 11:10CST
data analysis
Source:SMM
The Chinese currency Renminbi, or the yuan, weakened 31 basis points to 6.3359 against the U.S. dollar on Thursday, according to the China Foreign Exchange Trading System.

BEIJING, March 15 (Xinhua) -- The Chinese currency Renminbi, or the yuan, weakened 31 basis points to 6.3359 against the U.S. dollar on Thursday, according to the China Foreign Exchange Trading System.

The yuan hit 6.2919 against the U.S. dollar on Feb. 29, a record high since the country started reforming its exchange rate formation mechanism in 2005.

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.

 

Chinese yuan; 6.3359 against USD

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