Chinese Yuan Climbs To 8-day High Against U.S. Dollar

22:11, 25th April 2012

(RTTNews) - The Chinese yuan rose to an 8-day high of 6.2995 against the U.S. dollar in early Asian trading on Thursday. If the yuan gains further, it may target 6.295 level. The pair is now trading near Wednesday's close of 6.3088.

The People's Bank of China set today's central parity rate for the yuan at a record high of 6.2829 per dollar, compared to yesterday's daily reference rate of 6.2923. The Chinese central bank sets the central parity rate every morning and allows the currency to fluctuate up to 1 percent from the level.