Chinese Yuan Rises To Near 2-week High Against U.S. Dollar
April 16 2015 - 10:42PM
RTTF2
The Chinese yuan strengthened against the U.S. dollar in the
Asian session on Friday.
Against the greenback, the yuan rose to nearly a 2-week high of
6.1902 from an early low of 6.2073. At yesterday's close, the yuan
was trading at 6.1950 against the greenback.
If the yuan extends its uptrend, it is likely to find resistance
around the 6.18 area.
The People Bank of China set today's central parity rate for
yuan at 6.1267 per dollar, compared to Thursday's reference rate of
6.1305. The central bank sets the reference rate every morning and
allows the currency to move upto 2 percent from that level.
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