Yuan Hit Record High Against USD Monday-Shanghai Metals Market

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Yuan Hit Record High Against USD Monday

Data Analysis 10:24:29AM Jul 13, 2010 Source:SMM

BEIJING, July 13 --  The central parity rate of the yuan, China's currency Renminbi (RMB), stood at 6.7718 per US 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.
 

Yuan Hit Record High Against USD Monday

Data Analysis 10:24:29AM Jul 13, 2010 Source:SMM

BEIJING, July 13 --  The central parity rate of the yuan, China's currency Renminbi (RMB), stood at 6.7718 per US 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.