The Chinese currency Renminbi, or yuan, strengthened 78 basis points to a record high of 6.1232 against the U.S. dollar on Friday, according to the China Foreign Exchange Trading System.[Hong Kong Company Formation, Incorporation, Business Registration]

This came as U.S. dollar fell against other major currencies overnight after better-than-expected growth for the third quarter boosted prospective of the scaling back of the 85-billion-dollars monthly bond purchases.

The U.S. Commerce Department revised third-quarter growth to an annual rate of 3.6 percent, well above market estimate of 3 percent, and the jobs report due on Friday is largely expected to reinforce the firming trend.[Hong Kong Company Formation|Hong Kong Company Registration]

In China's foreign exchange spot market, the yuan is allowed to rise or fall by 1 percent from the central parity rate each trading day.

The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.