Yuan’s climb against dollar touches 19-year record
Print Edition
The yuan appreciated to a 19-year record of 6.1073 against the US dollar yesterday after the Chinese central bank set a record reference rate as risks for a default mount in the US.
The yuan closed at 6.1079 in the interbank market, 0.2 percent stronger than last Friday, after touching the intraday high. The record beat a previous high of 6.1090 on August 16.
Meanwhile, the People’s Bank of China set the central parity rate at 6.1406, also the strongest since the government unified the official and market rates at the end of 1993.
The appreciation occurred as the US dollar continued to weaken due to the lingering fiscal standoff.
But Bank of America Merrill Lynch said in a report yesterday that the room for the yuan to continue to firm is limited as export growth in September is seen to be weaker than expected. China Customs said on Saturday that exports fell 0.3 percent in September from a year earlier.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
