China yuan strengthens to 6.1190 against USD
(Xinhua) Updated: 2014-03-03 11:31BEIJING - The Chinese currency renminbi, or yuan, strengthened 24 basis points to 6.1190 against the US dollar on Monday, according to the China Foreign Exchange Trading System.
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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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