Text Version
RSS Feeds
Home Forum Photos Features Newsletter Archive Employment
About US Help Site Map
SEARCH   About US FAQ Site Map Site News
  -Text Version
  -RSS Feeds
  -News Archive
  -Give us feedback
  -Voices of Readers
  -Online community
  -China Biz info
  What's new
Chinese yuan breaks 7.5 mark against USD
+ -
11:16, October 24, 2007

 Related News
 Flexibility of China's currency expands
 Flexibility of China's currency expands
 Call for flexible policy on yuan
 Official: China's RMB forward settlement represents two pct of trade in 2006
 China's first RMB bond in Hong Kong hugely oversubscribed
 Comment  Tell A Friend
 Print Format  Save Article
China's Renminbi (RMB) broke the 7.5 mark to reach a new central parity rate of 7.4938 yuan to one U.S. dollar on Wednesday, according to the Chinese Foreign Exchange Trading System.

The yuan climbed 72 basis points to one dollar on Tuesday, rising a total 3,149 basis points from 7.8087 yuan on the last trading day of 2006.

The accumulative appreciation since July 21, 2005, when China discontinued yuan's peg to the greenback, has exceeded eight percent.

At a conference of the People's Bank of China on Tuesday, the central bank said it would strengthen efforts in financial control and improve the valuation mechanism of the RMB exchange rate.

The People's Bank of China on May 21 further widened the floating band of yuan against dollar for daily spot trading on the inter-bank market from 0.3 percent to 0.5 percent.

On Wednesday, the yuan lost 329 basis points from the previous trading day to reach a central parity rate of 10.6779 yuan against one euro.

Meanwhile, it climbed 28.5 points from 6.5585 on Tuesday to 6.53 yuan against 100 Japanese yen.

The yuan broke the 7.6 mark against the U.S. dollar on July 3.


  Your Message:   Most Commented:

|About Peopledaily.com.cn | Advertise on site | Contact us | Site map | Job offer|
Copyright by People's Daily Online, All Rights Reserved