Off the wire
• Roundup: Bangladesh executes top militant ringleader, 2 accomplices over 2004 attack on British diplomat  • Namibian deputy PM calls China true friend of developing countries  • Merkel condemns Dortmund bus attack as "despicable"  • Feature: Tongyu Communications -- the first Chinese manufacturing company in Latvia  • Xinhua China news advisory -- April 13  • Urgent: China's Q1 exports up 14.8 pct, imports up 31.1 pct  • 1st LD: S. Korea freezes interest rate at record low despite positive signals  • Commentary: Hyping up hypothetical "China slowdown" irresponsible, harms business confidence  • 1st LD: 2 killed as flood hits in W. Indonesia  • Chinese shares open lower Thursday  
You are here: 　 Home

1st LD Writethru: China's yuan strengthens to 2-month high against USD

Xinhua, April 13, 2017 Adjust font size:

The Chinese currency strengthened to its strongest level in nearly two months against the U.S. dollar on Thursday following the fall of the greenback overnight.

The central parity rate of the yuan strengthened by 289 basis points to 6.8651 against the greenback Thursday, the strongest level since February 17, according to the China Foreign Exchange Trade System.

In an interview with Wall Street Journal on Wednesday, U.S. President Donald Trump said that his administration would not label China as a currency manipulator, and complained the U.S. dollar was getting too strong.

The dollar index, which tracks the greenback against six major peers, came under heavy selling pressure following Trump's comments.

In China's spot foreign exchange 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. Endi