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Article: US DOLLAR FALLS BELOW 8 YUAN: BANK OF CHINA.

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AsiaPulse News
Article date:
November 28, 2005
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BEIJING, Nov 28 Asia Pulse - The purchasing price of RMB yuan against the US dollar fell to 7.9997 yuan on Friday, dropping below 8 yuan for the first time since China's foreign exchange rate reform, sources of the Bank of China said.

According to recent data, the exchange rate of RMB yuan against the US dollar closed at 8.083 yuan on November 23, then rebounded slightly but closed again at 8.0805 yuan on November 24, a record high. On November 25, the exchange rate opened at 8.081 yuan and closed at 8.0815 yuan. Before then, the rate narrowly fluctuated around 8.0870 yuan.

Experts attribute the rise of the RMB exchange rate against the US dollar ...

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