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Yuan rises to record high of 6.284 against USD Tuesday

(Xinhua)

10:22, March 27, 2012

BEIJING, March 27 (Xinhua) -- The Chinese currency Renminbi, or the yuan, continue to strengthen on Tuesday to hit a record high of 6.284 against the U.S. dollar, 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 percent from the central parity rate each trading day.

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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