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Home / Metal News / China Yuan Strengthens to 6.2806 against USD

China Yuan Strengthens to 6.2806 against USD

iconJan 31, 2013 09:25
Source:SMM
The Chinese currency Renminbi, or yuan, strengthened 45 basis points to 6.2806 against the U.S. dollar on Wednesday, according to the China Foreign Exchange Trading System.

BEIJING, Jan. 31 -- The Chinese currency Renminbi, or yuan, strengthened 45 basis points to 6.2806 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

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