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Chinese yuan climbs to new high against USD
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10:24, November 01, 2007

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China's Renminbi (RMB) reached a new high to break the 7.46 mark on Wednesday, with the central parity rate at 7.4552 yuan against one U.S. dollar, according to the Chinese Foreign Exchange Trading System.

It was the fifth time for the yuan to set a record high against the dollar in seven trading days.

The yuan climbed 140 basis points from previous trading at 7.4692 yuan to one dollar.

This was the 67th new high the yuan has hit since the beginning of this year, up more than four percent accumulatively.

Source:Xinhua



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