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People's Daily Online>>China Business

Yuan At A Record High

By Louise Ho (Shanghai Daily)

10:08, January 05, 2012

The yuan rose to a record high against the US dollar yesterday.

Analysts said they expected a gradual appreciation of the Chinese currency this year though China is facing dwindling external demand.

The yuan closed yesterday at 6.2946 against the dollar, strengthening from a central parity rate of 6.3001 set by the People's Bank of China.

The exchange rate was the highest since China unified official and market exchange rates in 1993.

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