Money

China's yuan rises to new high against dollar

(Xinhua)
Updated: 2011-04-28 09:51

BEIJING - The Chinese currency Renminbi (RMB), or the yuan, Thursday gained 45 basis points from Wednesday to a record new high of 6.5051 per US dollar.

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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 US dollar is based on a weighted average of prices before the opening of the market each business day.