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Special report: Yuan's exchange rate in spotlight
SHANGHAI, Dec. 1 (Xinhua) -- The value of the Renminbi (RMB) against the U.S. dollar hit a new high on Friday with the central parity rate at 7.8331 yuan to one dollar, growing by 3.53 percent since China's reform in the exchange rate system last year.
The RMB value has been on the rise since July 21, 2005, when the Chinese government launched the reform of the exchange rate system to allow the yuan to float against the U.S. dollar within a daily 0.3 percent band around the official central parity rate.
The exchange rate was set at about 8.28 yuan per U.S. dollar before the reform.
The latest rise followed previous records on Nov. 9 when the central parity rate hit 7.8697, breaking the 7.87 mark, Nov. 23 when it was 7.8596, breaking the 7.86 mark, Nov. 27 when it was 7.8402, breaking the 7.85 mark and Nov. 29 when it was 7.8394, breaking the 7.84 mark.
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BEIJING, Nov. 27 (Xinhua) -- The value of the Renminbi (RMB) against the U.S. dollar hit a new high on Monday, with the central parity rate at 7.8402 yuan to one dollar, breaking the 7.85 mark. Full Story
2006-11-24 17:14:36
BEIJING, Nov. 24 (Xinhua) -- The value of the Renminbi (RMB) yuan against the U.S. dollar kept rising on Friday and hit a new high with the central parity rate at 7.8526 yuan to one dollar, according to the Chinese Foreign Exchange Trade System. Full Story
2006-11-09 15:48:47
BEIJING, Nov. 9 (Xinhua) -- The value of the Renminbi (RMB) yuan against the U.S. dollar hit a new high Thursday, with the central parity rate at 7.8697 yuan to one dollar, breaking the 7.87 mark. Full Story
2006-11-09 16:52:13
BEIJING, Nov. 9 (Xinhua) -- China's banks will be exposed to greater credit risk against the backdrop of the yuan's accelerating appreciation, said Li Lihui, president of the Bank of China (BOC). Full Story
2006-06-30 16:32:20
BEIJING, June 30 (Xinhua) -- The Chinese government should accelerate the promotion of the Renminbi yuan as an international hard currency, the official People's Daily said in an article published Friday in its overseas edition. Full Story
2006-06-24 10:41:41
BEIJING, June 24 (Xinhua) -- RMB will witness obvious appreciation trend in 2007, and is likely to appreciate by large degree, said Yu Yongding, a member of Chinese central bank's monetary policy committee. Full Story
2006-06-12 10:56:09
BEIJING, June 12 -- The yuan had its biggest weekly gain in 10 months last week as the country announced plans to remove restrictions on purchases of foreign currencies. Full Story
2006-06-05 08:53:48
BEIJING, June 5 -- The government will look to upcoming economic data before deciding on further economic cooling measures such as an interest rate hike or an increase in bank reserve ratios, the National Development and Reform Commission (NDRC) said. Full Story
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