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China yuan rises to 6.2879 against USD Friday

(Xinhua)

11:01, April 13, 2012

BEIJING, April 13 (Xinhua) -- The Chinese currency Renminbi, or the yuan, strengthened 5 basis points to 6.2879 against the U.S. dollar on Friday, 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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