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Article: YUAN APPRECIATION DEVALUES CHINA'S FOREX RESERVE.
- Article from:
- AsiaPulse News
- Article date:
- December 21, 2005
CopyrightCOPYRIGHT 2005 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEIJING, Dec 21 Asia Pulse - The exchange rate of the Renminbi against the US dollar hit new highs for five consecutive days up to December 19, and had cumulatively appreciated 2.52 per cent from the close of 8.2765 yuan against the greenback prior to the exchange rate reform on July 21 this year.
As a result, China's foreign exchange reserve has devalued by nearly ...