Chinese yuan strengthens

Chinese yuan strengthens

Beijing, June 30 (IANS) The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 12 basis points to 6.6312 against the US dollar on Thursday, according to the China Foreign Exchange Trading System.

In China’s spot foreign exchange market, the yuan is allowed to rise or fall by 2 per cent from the central parity rate each trading day, Xinhua news agency reported.

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.

Chinese shares open mixed

Beijing, June 30 (IANS) Chinese stocks opened mixed on Thursday, with the benchmark Shanghai Composite Index opening flat at 2,931.48 points.

The smaller Shenzhen index opened 0.13 per cent higher at 10,474.94 points, Xinhua news agency reported.

The ChiNext Index, tracking China’s NASDAQ-style board of growth enterprises, was up 0.17 per cent to open at 2,213.6 points.

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