Statistics

China's yuan advances to new high

(Xinhua)
Updated: 2011-03-22 10:59

BEIJING - The Chinese currency, or the yuan, on Tuesday strengthened 40 basis points to a new high of 6.5592 per US dollar from Monday.

Related readings:  China to increase flexibility of RMB exchange rate  China expects currency breakthrough within 5 years  Yuan not to blame for trade gap with US  No timetable for yuan's full convertibility

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 US dollar is based on a weighted average of prices before the opening of the market each business day.