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RMB climbs to new high against US dollar

(Xinhua)
Updated: 2007-02-16 15:13

The exchange rate of the renminbi (RMB) yuan against the US dollar climbed a further 94 basis points to a new high of 7.7408 yuan to one dollar on Friday, according to the Chinese Foreign Exchange Trading System.

This is the 13th time that the RMB hit a new high against the US dollar since the beginning of the New Year. The central parity rate of RMB against the US dollar hit 7,7496 yuan on February 7, the 12th record this year.

The yuan also gained 177 basis points against the euro with a central parity rate of 10.1639 yuan on Friday, 985 basis points against the British Pound with a central parity rate of 15,1099 yuan, and 116 basis points against the Hong Kong dollar, with a central parity rate of 0.99132 yuan.

But it lost 294 basis points against the Japanese yen, with a central parity rate of 6.4766 yuan against 100 Japanese yen on Friday.