China's Yuan Weakens to 6.2767 against USD Thursday-Shanghai Metals Market

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China's Yuan Weakens to 6.2767 against USD Thursday

Industry News 10:03:56AM Jan 17, 2013 Source:SMM

BEIJING, Jan. 17 (Xinhua) -- The Chinese currency Renminbi, or yuan, weakened 22 basis points to 6.2767 against the U.S. dollar on Thursday, 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 6.2767 against USD Thursday

Industry News 10:03:56AM Jan 17, 2013 Source:SMM

BEIJING, Jan. 17 (Xinhua) -- The Chinese currency Renminbi, or yuan, weakened 22 basis points to 6.2767 against the U.S. dollar on Thursday, 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.