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| Yuan Hits New High Against the US Dollar |
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The value of the Chinese currency yuan against the US dollar hits a new high on Monday with a central parity rate of 7.7306 yuan to one dollar, according to the Chinese Foreign Exchange Trading System. The yuan, also known as Renminbi (RMB) gained 36 basic points from Friday's reference rate of 7.7342 to the US dollar. The yuan climbed to a central parity rate of 7.7386 yuan to the US dollar, breaking the 7.74 mark on March 8 this year. (Xinhua News Agency April 2, 2007) |
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