China's Renminbi (RMB) climbed 101 basis points to break the 7.02 mark on Wednesday, with the central parity rate at 7.05 yuan against one U.S. dollar, according to the Chinese Foreign Exchange Trading System.
The yuan broke the 7.05 mark at 7.02 yuan against one U.S. dollar only last Thursday.
This was the 68th new high the yuan has hit since the beginning of this year, up more than four percent accumulatively.
The accumulative appreciation since July 21, 2005, when China discontinued yuan's peg to the greenback, has exceeded 8.3 percent.
Friday, March 28, 2008
Chinese yuan climbs to new high against USD,export business is difficile to work
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