天空之城 2006-12-5 10:26 AM
Chinese yuan at new high against dollar
SHANGHAI, Dec.4 - The Chinese yuan rose to a fresh high against the U.S. dollar Monday as reports cited officials urging diversified investments of the country's US$1 trillion in foreign exchange reserves.
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The central bank's official "parity" rate for the yuan was set at 7.8240 per dollar Monday morning, compared to an official rate of 7.8331 on Friday. The yuan has gained about 3.5 percent against the dollar since the current foreign exchange system was set up in July 2005.
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The parity rate, set each trading day by the People's Bank of China, is a weighted average of prices given by market makers, excluding the highest and lowest offers.