China's yuan strengthens to record high of 6.5695 per U.S. dollar

16:10, March 03, 2011      

Email | Print | Subscribe | Comments | Forum 

The Chinese currency Renminbi (RMB), or the yuan, on Thursday strengthened 41 basis points to 6.5695 per U.S. dollar, a record high, according to the China Foreign Exchange Trading System.

Thursday's central parity rate of the RMB against U.S. dollar was 10 basis points lower than the previous record of 6.5705 set on Feb. 21, 2011.

The yuan has appreciated 3.78 percent since June 19 last year when the People's Bank of China, the central bank, announced it would further reform the exchange rate formation mechanism to improve its flexibility.

On China'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 U.S. dollar is based on a weighted average of prices before the opening of the market for each business day.

Source: Xinhua
  • Do you have anything to say?


Special Coverage
  • Survey for 2011 NPC and CPPCC Sessions
  • Focus On China
Major headlines
Editor's Pick
  • Eighth Guangzhou International Leisure Industry Exposition opened
  • Popular county website crashes from too much traffic
  • Anhui constructing intercity high-speed railway
  • Volunteers help supervise China's Internet cafe
  • Job fair for women held in Taiyuan
  • Japan's unemployment rate remains unchanged at 4.9%
Hot Forum Dicussion