China Yuan Retreats to 6.3188 against USD Friday-Shanghai Metals Market

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China Yuan Retreats to 6.3188 against USD Friday

Data Analysis 10:22:12AM Jun 08, 2012 Source:SMM

BEIJING, Jun. 8 -- The Chinese currency Renminbi, or the yuan, lost 18 basis points to 6.3188 against the U.S. dollar on Friday, 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.

Key Words:  Chinese currency  

China Yuan Retreats to 6.3188 against USD Friday

Data Analysis 10:22:12AM Jun 08, 2012 Source:SMM

BEIJING, Jun. 8 -- The Chinese currency Renminbi, or the yuan, lost 18 basis points to 6.3188 against the U.S. dollar on Friday, 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.

Key Words:  Chinese currency