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Chinese Yuan hits new levels against US. Dollar for three consecutive days

The Chinese Yuan RMB manages to stay strong for three consecutive days against the US. Dollar

Submitted by Peter Fleming on Wed, 17/01/2007 - 11:20pm.
In Major Currencies | Chinese Yuan RMB | Economic Indicators | Market Reactions

The Chinese Yuan RMB managed to stay strong for three consecutive days against the US. Dollar, with a central parity rate of 7.7798 Yuan to the US. Dollar, according to a forex trading system in China. The value of the Chinese Yuan recently overtook the Hong Kong Dollar for the first time in 13 years, with a central parity rate of 0.99945 Yuan to a Hong Kong Dollar.

China's Central bank has also reported a 34 percent growth in foreign exchange reserves, jumping by 200 billion US. Dollars last year. According to the Chinese Central bank, foreign exchange reserves have more than tripled.

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