The value of the Chinese currency renminbi, or the yuan, gained 61 basis points to 6.1565 against the U.S. dollar in its central parity on Wednesday, according to the China Foreign Exchange Trading System.
In China's foreign exchange spot market, the yuan is allowed to rise or fall by 2 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 offered by market makers before the opening of the interbank market each business day.
China yuan strengthens to 6.1626 against USD Tuesday
2014-07-08China yuan weakens to 6.1642 against USD Friday
2014-07-04China yuan weakens to 6.1581 against USD Thursday
2014-07-03Yuan exchange rate in equilibrium: report
2014-07-03China to keep RMB largely stable: PBOC
2014-07-07Chinese banks given RMB exchange freedom
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