Markets
皇冠体育app's yuan advances to 6.5881 per USD Tuesday
(Xinhua)
Updated: 2011-01-25 10:15
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BEIJING - The central parity rate of yuan, the Chinese currency, Tuesday gained 2 points to 6.5881 against the US dollar, according to the 皇冠体育app Foreign Exchange Trading System.
皇冠体育app's central bank announced in June 2010 it would further reform the exchange rate formation mechanism to improve its flexibility.
On 皇冠体育app's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.
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.