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China's yuan advances to new high against U.S. dollar Thursday

China's yuan advances to new high against U.S. dollar Thursday

Write: Moria [2011-05-20]
Tags: the yuan
2011-4-7

BEIJING, April 7 (Xinhua) -- The Chinese currency Renminbi (RMB), or the yuan, on Thursday gained 40 basis points, from Wednesday to a record high of 6.5456 per U.S. dollar.

On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.

The central parity rate of the RMB against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.

Source:English.news.cn