Source: CCTV.com

05-23-2007 10:54

The yuan has hit a post revaluation high against the greenback for the fifth straight day.

On Wednesday, the Central bank set the mid-point of the yuan's exchange rate against the dollar at 7.6540. The yuan has now appreciated a further 5.96 percent since it was freed from a dollar peg in July 2005 to float within managed bands.

The central bank announced late on Friday that it was widening the yuan's trading band against the dollar to 0.5 percent on either side of the mid-point from 0.3 percent.

Editor:Chen Ge