Yuan strengthens 192 bps against USD
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The central parity rate of the yuan, China's currency Renminbi (RMB), strengthened 192 basis points to 6.7625 per U.S. dollar Friday from 6.7817 per U.S. dollar Thursday, according to the data released by the China Foreign Exchange Trading System.
China's central bank announced on June 19 this year that it would further the reform of the formation mechanism of the yuan exchange rate to improve its flexibility.
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