Yuan past 7 to a dollar again

The central parity rate of the yuan, which is set by the central bank, breached the 7 mark against the US dollar again yesterday, reaching 6.982 and marking a post-revaluation high.

Analysts said the short-term growth track of the yuan has become more complicated, although it will continue to rise as the Chinese economy expands in the long run.

The value of the yuan has been hovering around the 7 mark since it first broke it early this month, shaking off the exceptionally fast appreciation trend in the first quarter.