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The value of the Chinese currency renminbi, or the yuan, strengthened 28 basis points to 6.1531 against the U.S. dollar in its central parity on Thursday, according to the China Foreign Exchange Trading System.
In China's foreign exchange spot market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day.
The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
China may have little choice but to float yuan
2014-06-18China yuan weakens to 6.1559 against USD on Wednesday
2014-06-18China yuan strengthens to 6.1537 against USD Tuesday
2014-06-17China yuan weakens to 6.1537 against USD on Monday
2014-06-16China yuan strengthens to 6.1503 against USD on Friday
2014-06-13Yuan on road to two-way volatility
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