China's yuan sets new high against dollar

BEIJING - The Chinese currency, or the yuan, on Thursday gained 22 basis points from Wednesday to a record high of 6.5564 per US dollar.

On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.

The central parity rate of the RMB against the US dollar is based on a weighted average of prices before the opening of the market each business day.

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