RMB weakens against USD on July 12
Source:wickerchina.com
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Publish Time:2011-07-13
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RMB weakens against USD on July 12
Yesterday, the RMB weakens against USD on July 12th.More details:The Chinese currency Renminbi (RMB), or the Yuan, weakens 39 basis points to 6.4748 per USD Tuesday, according to the China Foreign Exchange Trading system.
In China’s foreign exchange spot market, the yuan is allowed to rise or fall by 0.5% from the central parity rate each trading day.
The central parity rate of the yuan against the USD is based on a weighted average of prices before the opening of the market each business day.
So as a wicker basket retailer or basket wholesaler from China,you need do bussiness more carefully.
