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strengthens against the U.S. dollar

China's currency, the yuan or Renminbi (RMB), was reinforced on Thursday when climbing 41 basis points against the U.S. dollar to settle at 6.5695 per dollar, from Wednesday, according to Data published by the Foreign Exchange Trading System of China.

The People's Bank of China, the central bank, announced on June 19, 2010 would continue to deepen reform of the formation mechanism of RMB exchange rate to increase flexibility.

the spot market in China's foreign currency, the yuan can range by 0.5 percent from the central parity for each day of transaction.

The central parity rate of RMB against the U.S. dollar is based on a weighted average of prices given by all the drawers of the market before the start of each day.