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China Yuan Retreats against USD Thursday
Feb 21,2013 10:46CST
industry news
Source:SMM
The Chinese currency Renminbi, or yuan, lost 42 basis points to 6.2846 against the U.S. dollar on Thursday, according to the China Foreign Exchange Trading System.

BEIJING, Feb. 21 (Xinhua) -- The Chinese currency Renminbi, or yuan, lost 42 basis points to 6.2846 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 yuan
US dollar
China Foreign Exchange Trading System

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