Yuan hits 17-year high in 2010

Posted on Jan 5, 2011 in AllEconomic News
The yuan’s appreciation may slow this year after the currency strengthened beyond 6.6 per dollar for the first time in 17 years, as China seeks to stem inflows that may fuel inflation, a JPMorgan Chase & Co analyst said. The yuan advanced 4.6 percent to 6.3 per dollar, after climbing 3.6 percent in just over six months, said Yen Ping Ho, the head of Asian foreign-exchange strategy for the company. The central bank set the yuan’s reference central parity rate at 6.6215 against the dollar on Tuesday. via Yuan hits 17-year high in 2010 – People’s Daily Online.