Chinese Yuan Slightly Off 2-day High Against U.S. Dollar
July 25 2012 - 10:48PM
RTTF2
After climbing against the U.S. dollar in early Asian trading on
Thursday, the Chinese yuan pared gains slightly shortly thereafter.
The yuan is now trading at 6.3872 against the greenback, compared
to a 2-day high of 6.3853 hit in previous trading. The pair ended
yesterday's deals at 6.3895.
The People's Bank of China set today's central parity rate for
the yuan at 6.3381 per dollar, compared to yesterday's daily
reference rate of 6.3429. The Chinese central bank sets the central
parity rate every morning and allows the currency to fluctuate up
to 1 percent from the level.
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