Money

China's yuan rises to new high against dollar

(Xinhua)
Updated: 2011-04-29 11:09

BEIJING - The Chinese currency Renminbi (RMB), or the yuan, Friday gained 61 basis points from Thursday to a record new high of 6.4990 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.