Yuan hit record high against USD Monday

0 CommentsPrint E-mail Xinhua, July 12, 2010
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The central parity rate of the yuan, China's currency Renminbi (RMB), stood at 6.7718 per U.S. dollar Monday, a new record high, according to the data released by the China Foreign Exchange Trading System.

China's central bank announced on June 19 that it would further the reform of the formation mechanism of the yuan exchange rate to improve its flexibility.

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