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Article: YUAN CLIMBS TO ANOTHER RECORD HIGH AGAINST U.S. DOLLAR.
- Article from:
- AsiaPulse News
- Article date:
- July 25, 2007
CopyrightCOPYRIGHT 2007 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, July 25 Asia Pulse - The yuan hit a new high against the U.S. dollar on Wednesday, according to the Chinese Foreign Exchange Trading System.
The central parity rate of the yuan, also known as the Renminbi (RMB), stood at 7.5596 yuan to the U.S. dollar, up 129 basis points from Tuesday's 7.5725 yuan to one dollar
It is the 54th time that the yuan's value hit a record this year, and also the highest rate since the yuan was revalued by 2.1 per cent from 8.28 yuan in July 2005.
The yuan has climbed 2,491 basis points from 7.8087 on the last trading day of 2006, and the value of the yuan has increased by 7.28 per cent since the country ...