Yuan Rises to New High Against Dollar

(Beijing) – China's currency, the yuan, hit a 17-year high against the U.S. dollar at 6.3991, according to the yuan's central parity rate published by the People's Bank of China on August 11.

This follows a continuous trend of yuan appreciation in recent days. On August 8 and 10, the yuan's rate against the dollar jumped by 146 basis points and 186 basis points, respectively.