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Chinese Yuan Spikes Up To Record High Against U.S. Dollar

The Chinese yuan gained ground against the U.S. currency in the Asian session on Monday.

The Chinese yuan appreciated 0.12 percent to reach a record high of 6.1259 against the greenback from last week's close of 6.1331.

The People's Bank of China set today's central parity rate for the yuan at 6.1811 per dollar, higher than Friday's reference rate of 6.1867. The Chinese central bank sets the central parity rate every morning and allows the currency to fluctuate up to 1% from the level.

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