Chinese Yuan Weakened to 6.3249 against USD Friday-Shanghai Metals Market

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Chinese Yuan Weakened to 6.3249 against USD Friday

Industry News 01:21:28PM Jul 06, 2012 Source:SMM

BEIJING, July 6 (Xinhua) -- The Chinese currency Renminbi, or the yuan, weakened 56 basis points to 6.3249 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.

Chinese Yuan Weakened to 6.3249 against USD Friday

Industry News 01:21:28PM Jul 06, 2012 Source:SMM

BEIJING, July 6 (Xinhua) -- The Chinese currency Renminbi, or the yuan, weakened 56 basis points to 6.3249 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.