Yuan strengthens 123 basis points against USD
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The central parity rate of the yuan, China's currency Renminbi (RMB), strengthened 123 basis points to 6.8003 per U.S. dollar Thursday from 6.8126 per U.S. dollar Wednesday, according to the data released by the China Foreign Exchange Trading System.
China's central bank announced on June 19 this year that it would further the reform of the formation mechanism of the yuan exchange rate to improve its flexibility.
The central parity rate of the yuan advanced to a record high 6.7715 against U.S. dollar on August 4 since the reform.
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