China Yuan Advances to 6.314 against USD Wednesday

Jul 18, 2012 10:41

The Chinese currency Renminbi, or the yuan, gained 27 basis points to 6.314 against the U.S. dollar on Wednesday, according to the China Foreign Exchange Trading System.

BEIJING, July 18 (Xinhua) -- The Chinese currency Renminbi, or the yuan, gained 27 basis points to 6.314 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 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

China yuan

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China Yuan Advances to 6.314 against USD Wednesday

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