Biz News Flash

Market exchange rates in China -- May 12

(Xinhua)
Updated: 2011-05-12 10:27

BEIJING -- The following are the central parity rates of the renminbi against seven major currencies announced Thursday by the China Foreign Exchange Trading System:

Currency                  Unit          Middle Price (in yuan)

US Dollar                 100                650.05

Euro                          100                924.57

Japanese Yen         100                8.0199

Hong Kong Dollar   100                83.631

British Pound           100                1,064.13

Malaysian Ringgit  46.051             100

Ruble                       428.85             100

The central parity of renminbi against the US dollar is based on a weighted average of enquired prices from all market makers before the opening of the market in each business day.

The central parity of renminbi against the other six currencies is based on the central rate of renminbi against the US dollar of the same business day as well as the exchange rates of the six currencies against the US dollar at 9 am of the same business day in the international foreign exchange market.