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Yuan rises to 6.36 a dollar as appreciation quickens

(People's Daily Online)

11:01, September 28, 2011

China's currency appreciation has accelerated as the country’s central bank sets Wednesday’s official medium trading price at 6.3623 yuan against one U.S. dollar.

The surge marks a steep rise of 137 basic points from Tuesday’s 6.3760 yuan trading a U.S. dollar. China’s currency, the yuan or Renminbi, has risen more than 3 percent in value this year.

The yuan has kept rising ever since the U.S. Federal Reserve revealed in July that it would extend its exceptionally low interest rates policy through the middle of 2013.


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PD User at 2011-09-2858.68.145.*
toooo abrupt

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