China’s yuan advances against USD Thursday

Posted on Apr 21, 2011 in AllEconomic News
The Chinese currency Renminbi (RMB), or the yuan, on Thursday gained 66 basis points from Wednesday to 6.5228 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.

via China’s yuan advances against USD Thursday – People’s Daily Online.