Chinese Yuan Off New 1-1/2-month Low Versus U.S. Dollar
May 14 2012 - 11:31PM
RTTF2
Erasing its early losses, the Chinese yuan bounced back from a
new 1-1/2-month low of 6.3285 against the U.S. dollar in the Asian
session on Tuesday. The pair is now trading at 6.3240. The
greenback-yuan pair ended Monday's deals at 6.3224.
The People's Bank of China set today's central parity rate for
the yuan at 6.3110 per dollar, compared to Monday's daily reference
rate of 6.3040. 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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