Chinese yuan strengthens to 7.1228 against USD Thursday

BEIJING, Aug. 22 (Xinhua) -- The central parity rate of the Chinese currency renminbi, or the yuan, strengthened 79 pips to 7.1228 against the U.S. dollar Thursday, 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 U.S.