China's yuan hits new high against USD tuesday
Beijing - Qna
The Chinese currency Renminbi, or the yuan, strengthened 103 basis points to a record high of 6.3483 against the U.S. dollar on Tuesday, according to the China Foreign Exchange Trading system. In China''s foreign exchange spot market, the yuan is allowed to rise or fall by 0.5% from the central parity rate each trading day, according to China''s News Agency (Xinhua). 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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