Source: CCTV.com

02-28-2008 11:17

China's central bank has set the mid-point of the yuan's exchange rate against the dollar at its highest level since its revaluation.

China's central bank has set the mid-point of the yuan's exchange rate against the dollar at its highest level since its revaluation.

The rate stood at 7.1209 on Thursday. The yuan has now appreciated just under 14 percent since July 2005. The strengthening of the yuan also comes as the US dollar fell to an all-time low against the Euro, after the US Federal Reserve Chairman Ben Bernanke signaled further interest rate cuts.

 

Editor:Xiong Qu