China’s yuan advances to 6.3925 against USD

China’s yuan advances to 6.3925 against USD

 Updated: 2011–08–16 11:19

The Chinese currency renminbi, or the yuan, gained 25 basis points to a record high of 6.3925 per US dollar on Tuesday, according to the China Foreign Exchange Trading system.

In China’s foreign exchange spot market, the yuan is allowed to rise or fall by 0.5 percent from the central parity rate each trading day.

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

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