Center

Yuan hits record again dollar

(Xinhua)
Updated: 2007-04-26 10:29

China's currency, the yuan, Thursday challenged the 7.72 barrier against the U.S. dollar for the second time in six trading days, according to the Chinese Foreign Exchange Trading System.

The central parity rate of the yuan, also known asRenminbi(RMB), stood at 7.7199 yuan to one U.S. dollar on Thursday, gaining four basis points from Wednesday's reference rate of 7.7203 to the greenback.

On April 19, the local currency broke the 7.72 mark for the first time to reach 7.7199 yuan to one U.S. dollar. That was the fifth time in April, or the 24th time since the beginning of the year, that the yuan has set a new record, climbing 888 basis points, from 7.8087 yuan to one U.S. dollar posted on the last trading day of 2006.

On Thursday, the yuan also gained ground against the Japanese yen, up 91 basis points from the previous trading day to reach a central parity rate of 6.5067 yuan to 100 yen.

But the yuan lost 138 basis points against the euro to reach 10.5319 yuan to one euro.