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China's yuan hits record high against US dollar Friday

China's yuan hits record high against US dollar Friday

Write: Consuelo [2011-05-20]
China's yuan hits record high against US dollar FridayStem trade disputes, China urges US

Friday's yuan central parity against US dollar beat previous record of6.7181 per US dollar on Thursday, according to the data released by the China Foreign Exchange Trading System.

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.