Chinese Yuan Off 3-1/2-month High Against U.S. Dollar

The Chinese yuan came off from its early high against the U.S. dollar in late Asian deals on Tuesday.

The yuan was trading at 6.5498 per dollar, down from an early 3-1/2-month high of 6.5329. The pair finished Monday’s deals at 6.5379.

The People’s Bank of China set today’s central parity rate of the yuan at 6.5416 per dollar, compared to yesterday’s rate of 6.5683. The Chinese central bank sets central parity rate every morning and allows the yuan to fluctuate up to 2 percent from that level.

The material has been provided by InstaForex Company – www.instaforex.com

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