China's Yuan rises to new high against US Dollar
BEIJING - Arabstoday
The Chinese currency Renminbi (RMB), or the yuan, Wednesday gained 77 basis points from Tuesday to a record new high of 6.5096 per US dollar. On China's foreign exchange spot market, the yuan can rise or fall 0.5% from the central parity rate each trading day, Xinhua reported. The central parity rate of the RMB 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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