Biz News Flash

Yuan rises to 6.4921 per USD Thursday

(Xinhua)
Updated: 2011-05-26 10:59

BEIJING -- The Chinese currency renminbi, or the yuan, continued to strengthen 28 basis points to 6.4921 per US dollar on Thursday, according to the China Foreign Exchange Trading system.

The yuan hit an all-time high on May 11 when the central parity rate was set at 6.4848 per US dollar.

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