China Yuan Advances to 6.3208 Against USD Monday-Shanghai Metals Market

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China Yuan Advances to 6.3208 Against USD Monday

Industry News 11:54:36AM Jul 16, 2012 Source:SMM

BEIJING, July 16 (Xinhua) -- The Chinese currency Renminbi, or the yuan, gained 39 basis points to 6.3208 against the U.S. dollar on Monday, 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.

 

China Yuan Advances to 6.3208 Against USD Monday

Industry News 11:54:36AM Jul 16, 2012 Source:SMM

BEIJING, July 16 (Xinhua) -- The Chinese currency Renminbi, or the yuan, gained 39 basis points to 6.3208 against the U.S. dollar on Monday, 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.