Money

China's yuan extends rally to new high against US dollar Tuesday

(Xinhua)
Updated: 2010-09-21 09:58

BEIJING - The central parity rate of the yuan, China's currency renminbi, jumped 113 basis points, or 0.17 percent, Tuesday to a new record high at 6.6997 per $1, according to the data released by the China Foreign Exchange Trading System.

Tuesday's central parity rate beat the previous record of 6.7110 on Monday.

China's central bank announced on June 19 this year that it would further the reform of the formation mechanism of the yuan exchange rate to improve its flexibility.