China yuan strengthens to 6.2395 against USD

BY    2013-04-21 13:22:25

  BEIJING, April 19 (Xinhua) -- The central parity rate of Chinese currency Renminbi, or the yuan, strengthened 21 basis points to 6.2395 against the U.S. dollar on Friday, 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, from a fluctuation limit of 0.5 percent on either side previously.

  A new record high came Wednesday, one year after China allowed greater trading band for the Chinese currency on April 16, 2012.

  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.

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