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China's Yuan Reaches New High Against U.S. Dollar Wednesday
Sep 29, 2010 10:21Source:SMM
BEIJING, Sept. 29 (Xinhua) -- The central parity rate of the yuan, China's currency Renminbi (RMB), jumped 115 basis points, or 0.17 percent, Wednesday to a new record high at 6.6936 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.
Wednesday's central parity rate beat the previous record of 6.6997 on Sept. 21.
China's central bank announced on June 19 this year that it would further the reform of the formation mechanism of the yuan exchange rate to improve its flexibility.
exchange rate
PBOC;China central bank
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