Money

Yuan hits new record high against USD

(Xinhua)
Updated: 2010-06-28 10:22

BEIJING: The central parity of the RMB, or China's currency yuan, strengthened to 6.7890 per US dollar on Monday, a new record high, according to the data released by the China Foreign Exchange Trading System.

Related readings:  Yuan surges to highest in five years  Yuan hits 5-year high against USD  China rejects US accusations of yuan undervaluation

On June 25, the central parity of RMB against the US dollar rose to 6.7896, the highest since China announced to unpeg the yuan from the US dollar in July 2005.

China's central bank announced on June 19 that it would further the reform of the formation mechanism of the yuan exchange rate to improve its flexibility.