China Yuan Strengthens to 6.2695 against USD Monday-Shanghai Metals Market

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China Yuan Strengthens to 6.2695 against USD Monday

Industry News 10:55:27AM Jan 14, 2013 Source:SMM

BEIJING, Jan. 14 (Xinhua) -- The Chinese currency Renminbi, or yuan, strengthened 17 basis points to 6.2695 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 Strengthens to 6.2695 against USD Monday

Industry News 10:55:27AM Jan 14, 2013 Source:SMM

BEIJING, Jan. 14 (Xinhua) -- The Chinese currency Renminbi, or yuan, strengthened 17 basis points to 6.2695 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.