|China Yuan Strengthens vs. US Dollar|
|by Tom McGregor||Thu, Jun 19, 2014, 02:09 AM|
BEIJING: In signs of a strengthening Chinese economy, the value of the China Yuan is rising against the U.S. dollar.
Xinhua reports that, "The value of the Chinese currency renminbi, or the yuan, strengthened 28 basis points to 6.1531 against the U.S. dollar in its central parity on Thursday, according to the China Foreign Exchange Trading System."
The U.S. economy continues to stall.
According to Xinhua, "In China's foreign exchange spot market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day."
The U.S. dollar could lose its standing as the most prominent global currency.
To read the entire article from Xinhua, link here:
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