News Column

Yuan Rises To 5-month High Against US Dollar

August 18, 2014

BEIJING (Alliance News) - The yuan strengthened against the US dollar in the Asian session on Tuesday.

Against the greenback, the yuan rose to a 5-month high of 6.1375. At yesterday's close, the yuan was trading at 6.1430 against the greenback.

If the yuan extends its uptrend, it is likely to find resistance around the 6.08 area.

The People Bank of China set today's central parity rate for yuan at 6.1548 per dollar, compared to Monday's reference rate of 6.1528. 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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