Yuan keeps getting stronger

The yuan continued its steady rise yesterday as its central parity rate against the US dollar reached 7.2695.

The rate, the daily weighted average of prices given by market players, hit a new high since China broke its peg against the dollar in July 2005. Last Friday, it was 7.2779 against the dollar.

The yuan's recent rise reflects "economic data", Zhou Xiaochuan, governor of the central bank, said yesterday in Basel, Switzerland, where he was attending a Bank for International Settlements meeting.