China's Yuan Weakens to 6.2814 against USD Wednesday-Shanghai Metals Market

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China's Yuan Weakens to 6.2814 against USD Wednesday

Industry News 02:42:58PM Jan 09, 2013 Source:SMM

BEIJING, Jan. 9 -- The Chinese currency Renminbi, or yuan, weakened by 10 basis points to 6.2814 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.
 

China's Yuan Weakens to 6.2814 against USD Wednesday

Industry News 02:42:58PM Jan 09, 2013 Source:SMM

BEIJING, Jan. 9 -- The Chinese currency Renminbi, or yuan, weakened by 10 basis points to 6.2814 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.