The yuan rose last week in anticipation that the currency's appreciation will continue as part of the government's monetary measures to rein in inflation.
The currency ended at 6.8622 to the US dollar on the Shanghai Foreign Exchange Trading System last Friday, up from 6.8801 a week ago. The People's Bank of China set the central parity rate of the yuan at a record high of 6.8610 to the greenback last Friday. The yuan's daily trading band is currently set at 0.5 percent.
Economists see the central bank to continue to favor a stronger yuan and other steps to tame inflation.
(Shanghai Daily June 30, 2008)
