Chinese Yuan Strengthens To 6.8401 Against US Dollar On Thursday

BEIJING, May 14 (Bernama-Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, strengthened by 30 pips to 6.8401 against the United States dollar (US$) on Thursday, according to the China Foreign Exchange Trade System, reported Xinhua.

In China's spot foreign exchange market, the yuan is allowed to rise or fall by two per cent from the central parity rate each trading day.

The central parity rate of the yuan against the US$ is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.

-- BERNAMA-XINHUA