China's yuan rises 22 bps against USD Monday

0 CommentsPrint E-mail Xinhua, November 1, 2010
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The central parity rate of the yuan, China's currency Renminbi (RMB), strengthened 22 basis points Monday to 6.6886 per U.S. dollar, according to the data released by the China Foreign Exchange Trading System.

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

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