Yuan At A Record High
By Louise Ho |
January 5, 2012, Thursday
|
Print Edition
Print Edition
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.
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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