The Chinese currency Renminbi, or the yuan, advanced 9 basis points to 6.1598 against the U.S. dollar on Monday, according to the China Foreign Exchange Trading System.
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 U.S. dollar is based on a weighted average of prices before the opening of the market each business day.
China yuan rises to 6.1607 against USD Friday
Fri, Jun 14 2013Yuan hits record high at 6.1620 against USD Friday
Fri, Jun 07 2013Rising yuan raises questions for Chinese policymakers
Tue, May 28 2013Copyright ©1999-2018
Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.