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

Posted on Apr 8, 2011 in AllEconomic News
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.

via China’s yuan advances to new high against U.S. dollar Thursday – People’s Daily Online.