Chinese yuan reaches new high Friday

0 CommentsPrint E-mail Xinhua, October 8, 2010
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The central parity rate of the yuan, China's currency Renminbi (RMB), jumped 181 basis points, or 0.27 percent, Friday to a new record high at 6.6830 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.

Friday's central parity rate beat the previous record of 6.6936 on Sept. 29.

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.

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