The exchange rate of the Renminbi (RMB) yuan against US dollar
hit a new high on Monday, with the central parity rate at 7.8644
yuan to one dollar, according to the Chinese Foreign Exchange Trade
System.
The appreciation followed previous records on Nov. 1 when the
central parity rate hit 7.8720, Nov. 8 when it was 7.8719, and Nov.
9 when it was 7.8697, breaking the 7.87 mark.
The yuan has appreciated by over 3.12 percent since the country
launched a reform in July last year to allow it to float within a
daily 0.3 percent band from the official central parity rate.
The exchange rate was set at about 8.27 yuan per US dollar
before the reform.
(Xinhua News Agency November 13, 2006)