Economy

China's yuan rises 110 basis points against US dollar

(Xinhua)
Updated: 2010-11-04 13:38

BEIJING -- The central parity rate of China's currency, the renminbi (RMB), also known as yuan, strengthened 110 basis points Thursday to 6.6708 per US dollar from Wednesday's 6.6818, according to the data released by the China Foreign Exchange Trading System.

China's central bank announced on June 19 this year that it would further the reform of the formation mechanism of the yuan exchange rate to increase its flexibility.