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January 5, 2012

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Yuan At A Record High

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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