Chinese currency yuan, rose 38 basis points from the previous trading day and marks a new historic high of 6.4950 against the U.S. dollar.
The yuan first broke the symbolic exchange rate level of 6.50 against the U.S. dollar on April 29. The yuan rose to the previous new high of 6.4988 on Monday.
The third round of the China-U.S. Strategic and Economic Dialogue opened Monday in Washington DC. Co-chaired by Chinese Vice Premier Wang Qishan, State Councilor Dai Bingguo and U.S. Secretary of State Hillary Clinton and Treasury Secretary Timothy Geithner, the two-day event aims to address major concerns of the two sides, including China's self-innovation policy, yuan exchange rate regime, the US high-tech export restrictions and etc.
On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.
The central parity rate of the RMB against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.
