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| A Chinese bank worker counts 100-yuan notes and US dollar bills at a bank counter in Hefei, east China's Anhui province on Sept 30, 2010. (AFP) |
BEIJING -- The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 127 basis points to 6.9370 against the US dollar Friday, according to the China Foreign Exchange Trade System .
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 US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
