RMB Hits New High Against US Dollar

China discarded the renminbi's decade-old direct peg to the US dollar in July last year, switching to a mechanism that sets the exchange rate on a basket of world currencies. Under the new regime, the yuan is allowed to fluctuate 0.3 percent per day either way of the reference rate, which is set by the central bank. The renminbi appreciated to 7.9982 yuan against the US dollar on May 15, the first time in 12 years that the currency fell below 8 yuan. On December 14, the renminbi strengthened to below 7.8197 against the US dollar, and the appreciation has gained pace.
· RMB Hits 7.82 Against US Dollar
· RMB Value Against US Dollar Hits New High
· RMB Breaks 7.85 Mark Against US Dollar
· China to Loosen Control on RMB Gradually: Official
· QFIIs Benefit from Yuan Appreciation
· RMB Breaches 7.9 Mark Against US Dollar
· Yuan Hits Another High, Breaches 7.92
· Central Bank Says Opening Will Continue
· RMB Value Against US Dollar Hits New High
· More Measures to Dampen RMB Appreciation Expection
· US Pressure on China's Currency Reform 'Detrimental'
· Business Council Opposes Forced Appreciation of Renminbi
· RMB Hits Record High Against Greenback
· Banks Facing Losses on Dollar Assets as Yuan Rises
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