RMB Breaks Through 6.5 Dollar Mark
RMB Breaks Through 6.5 Dollar Mark
CHINA'S yuan strengthened beyond 6.5 against the US dollar for the first time since 1993 on expectations of a more valuable yuan to help tame inflation.
The yuan rose 0.1 percent to close at 6.4910 against the United States currency in Shanghai yesterday after touching an intraday high of 6.4892, according to the China Foreign Exchange Trading System. It was the strongest level since China unified official and market exchange rates at the end of 1993.
