Center

RMB drops against US dollar

(Xinhua)
Updated: 2007-02-12 13:45

The value of theRenminbi(RMB) yuan against the U.S. dollar dropped on Monday with a central parity rate of 7.7632 yuan, according to the Chinese Foreign Exchange Trade System.

Monday's central parity rate of the RMB was 57 points lower than that for Friday.

The value of the Chinese currency yuan against the U.S. dollar hit a new high for the 12th time since the beginning of the New Year on Feb. 7, with a central parity rate of 7.7496 yuan to the dollar, according to the Chinese Foreign Exchange Trade System.

RMB fell to 7.7526 yuan and 7.7575 yuan against the dollar in the following two days.

The central parity rate of the RMB to theHong Kongdollar dropped by 81 basis points to 0.99349 yuan on Monday.

There was no immediate comment from authorities on the fall.

The central parity rate of the RMB against the British Pound rose 304 basis points to 15.1595 yuan on Monday.