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China Yuan Strengthens to 6.3077 against USD Tuesday
May 22, 2012 10:47Source:SMM
The Chinese currency Renminbi, or the yuan, strengthened 39 basis points to 6.3077 against the U.S. dollar on Tuesday, according to the China Foreign Exchange Trading System.
BEIJING, May 22 (Xinhua) -- The Chinese currency Renminbi, or the yuan, strengthened 39 basis points to 6.3077 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 1 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.
yuan against dollar
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