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Yuan hits record high versus dollar, up 7pct since depegging

Posted on 31 August 2011

China’s yuan hit its all-time trading peak versus the dollar in early trade on Tuesday, after the People’s Bank of China set another record high mid-point, with traders predicting further rises for the rest of the year.
Traders said the government was apparently using the yuan’s exchange rate to help fight high inflation as well as help improve China’s economic structure and raise the yuan’s global status……………………………………….Full Article: Source


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