USEUROPEAFRICAASIA 中文双语Français
Home / Mosaic

Renminbi central parity rate set at a new high

By Wang Xu | China Daily | Updated: 2008-06-20 07:34

The central bank set the central parity rate of renminbi at a new high yesterday, a move that may help ease the trade tension with the US and curb inflation.

The Chinese currency climbed for the seventh day to 6.8796 yuan against the dollar, up 27 basis points from a day earlier. The currency has appreciated 6.18 percent this year and about 20 percent since the nation scrapped its peg to the dollar in 2005.

"In terms of currency, our side expressed an understanding and appreciation of the accelerated pace of appreciation of the renminbi," said US Treasury Secretary Henry Paulson at a news conference during the strategic economic dialogue between US and Chinese officials.

Renminbi central parity rate set at a new high

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US