News Column

Yuan Rises To 5-week High Against US Dollar

June 11, 2014

WASHINGTON (Alliance News) - The yuan climbed against the US dollar in the Asian session on Thursday.

Against the greenback, the yuan rose to a 5-week high of 6.2213. The pair closed yesterday's deals at 6.2282.

If the yuan extends its gain, it is likely to find resistance around the 6.21 zone.

The People Bank of China set today's central parity rate for yuan at 6.1516 per dollar, compared to Wednesday's reference rate of 6.1506. The central bank sets the reference rate every morning and allows the currency to move upto 2% from that level.

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Source: Alliance News

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