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Home / Metal News / China Yuan Drops to 6.3048 against USD Tuesday

China Yuan Drops to 6.3048 against USD Tuesday

iconApr 10, 2012 10:50
Source:SMM
The Chinese currency Renminbi, or the yuan, weakened 27 basis points to 6.3048 against the U.S. dollar on Tuesday, according to the China Foreign Exchange Trading System.

BEIJING, April 10 (Xinhua) -- The Chinese currency Renminbi, or the yuan, weakened 27 basis points to 6.3048 against the U.S. 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 U.S. dollar is based on a weighted average of prices before the opening of the market each business day.

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