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China Daily Website

China yuan strengthens to new high against USD

Updated: 2013-12-30 10:10
( Xinhua)

BEIJING - The Chinese currency Renminbi, or the yuan, strengthened 26 basis points to a new high of 6.1024 against the US 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 US dollar is based on a weighted average of prices before the opening of the market each business day.