Thursday, October 25, 2007
The yuan split 7.5 against the greenback to a record high as China drop the decade-long peg to the US dollar in July, 2005.
The yuan finished at 7.4926 against the US dollar yesterday at the China Foreign Exchange Trade System in Shanghai, up 0.16 percent from its central par rate of 7.4938, also a record.
The People's Bank of China made the central par on average weighted quotes from 10-plus market maker, demonstrating views on the yuan's movement
"The yuan's new high against the greenback is a signal that the yuan will keep a steady and regular growth amid the country's blistering economic growth," said an Industrial Bank foreign currency trader in Shanghai yesterday.
http://www.shanghaidaily.com/sp/article/2007/200710/20071025/article_335789.htm
The yuan finished at 7.4926 against the US dollar yesterday at the China Foreign Exchange Trade System in Shanghai, up 0.16 percent from its central par rate of 7.4938, also a record.
The People's Bank of China made the central par on average weighted quotes from 10-plus market maker, demonstrating views on the yuan's movement
"The yuan's new high against the greenback is a signal that the yuan will keep a steady and regular growth amid the country's blistering economic growth," said an Industrial Bank foreign currency trader in Shanghai yesterday.
http://www.shanghaidaily.com/sp/article/2007/200710/20071025/article_335789.htm
posted by stifxonline
@ 5:18 AM
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