China’s yuan sets new high against U.S. dollar Wednesday

Posted on Apr 13, 2011 in AllEconomic News
The Chinese currency Renminbi (RMB), or the yuan, on Wednesday gained 71 basis points from Tuesday to a record high of 6.5369 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 sets new high against U.S. dollar Wednesday – People’s Daily Online.