Markets
皇冠体育app's yuan strengthens 41 basis points to 6.5695 per US dollar Thursday
(Xinhua)
Updated: 2011-03-03 10:34
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BEIJING - The Chinese currency renminbi (RMB), or the yuan, on Thursday strengthens 41 basis points to 6.5695 per US dollar from Wednesday, according to the 皇冠体育app Foreign Exchange Trading System.
皇冠体育app's central bank announced on June 19 last year that it would further reform the yuan 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 for each business day.