News Column

Chinese Yuan Advances To 1-week High Against US Dollar

July 16, 2014

BEIJING (Alliance News) - The Chinese yuan climbed against the US dollar in Asia on Thursday.

The yuan hit 6.2013 against the greenback, setting a 1-week high. On the upside, 6.19 is seen as next possible resistance level for the yuan. The pair was worth 6.2040 at yesterday's close.

The People's Bank of China set today's daily reference rate for the yuan at 6.1564 per dollar, compared to yesterday's reference rate of 6.1535. The People's Bank of China sets the daily 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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