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Article: Yuan Hits Highest Level Since Revaluation
- Article from:
- AP Online
- Article date:
- May 15, 2006
- Author:
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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ELAINE KURTENBACH, AP Business Writer
AP Online
05-15-2006
Dateline: SHANGHAI, China
A clerk at an foreign currency exchange desk at a hotel shows Chinese yuan banknotes in Shanghai, China, in this July 22, 2005 file photo. China's official exchange rate rose Monday, May 14, 2006 to 7.9982 yuan per U.S. dollar, its highest level since a revaluation in July, the government said. (AP Photo/Eugene Hoshiko, File)
China's official exchange rate broke through the psychologically important 8 yuan per dollar level Monday, its highest level in more than a decade, in a move traders said might signal Beijing's willingness to allow its currency to appreciate faster.
Analysts said the U.S. government's ...