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Yuan breaks key 7.6 barrier against dollar

(Xinhua)
Updated: 2007-07-03 10:31

Special coverage: RMB in Spotlight Related readings:  Mundell: US calls for RMB rise a move to slow China's expansion  Bank chief reaffirms stable policy on yuan  China opposes IMF rule on exchange rate

China's currency, the yuan, hit a new high on Tuesday against the US dollar, according to the Chinese Foreign Exchange Trading System.

The central parity rate of the yuan, also known as Renminbi (RMB), stood at 7.5951 yuan to one US dollar on Tuesday, gaining 124 basis points from Monday's reference rate of 7.6075 to the dollar.