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Chinese yuan rises to 6.2881 against USD

2012-11-14 10:38 Xinhua     Web Editor: qindexing comment

The Chinese currency renminbi, or the yuan, strengthened 10 basis points to 6.2881 against the US dollar on Wednesday, according to the China Foreign Exchange Trading System.

The figure marked a rise for seven consecutive trading days, foreign exchange data showed.

In China's foreign exchange spot market, the yuan is allowed to rise or fall by 1 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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