China Yuan Retreats to 6.2865 against USD Wednesday-Shanghai Metals Market

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China Yuan Retreats to 6.2865 against USD Wednesday

Data Analysis 11:14:25AM May 09, 2012 Source:SMM

BEIJING, May 9 -- The Chinese currency Renminbi, or the yuan, lost 61 basis points to 6.2865 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 1% 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   RMB   US dollar 

China Yuan Retreats to 6.2865 against USD Wednesday

Data Analysis 11:14:25AM May 09, 2012 Source:SMM

BEIJING, May 9 -- The Chinese currency Renminbi, or the yuan, lost 61 basis points to 6.2865 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 1% 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   RMB   US dollar