China's yuan rises to record high against U.S. dollar Wednesday

September 15, 2010 11:20 am 

BEIJING, Sept. 15 — The central parity rate of the yuan, China's currency Renminbi (RMB), strengthened to a new record Wednesday at 6.725 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.

The yuan's central parity gained 128 basis points, or 0.19 percent, to 6.725 per U.S. dollar Wednesday, beating the previous record of 6.7378 per U.S. dollar Tuesday, according to the data released by the China Foreign Exchange Trading System.

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. (PNA/Xinhua)

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