China's Yuan Strengthens to 6.2752 against USD Friday-Shanghai Metals Market

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China's Yuan Strengthens to 6.2752 against USD Friday

Industry News 10:03:43AM Jan 18, 2013 Source:SMM

BEIJING, Jan. 18 (Xinhua) -- The Chinese currency Renminbi, or yuan, strengthened 15 basis points to 6.2752 against the U.S. dollar on Friday, 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 Strengthens to 6.2752 against USD Friday

Industry News 10:03:43AM Jan 18, 2013 Source:SMM

BEIJING, Jan. 18 (Xinhua) -- The Chinese currency Renminbi, or yuan, strengthened 15 basis points to 6.2752 against the U.S. dollar on Friday, 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.