Yuan gains the most in 20 years vs US dollar
By Wu Yiyao in Shanghai | China Daily | Updated: 2013-10-17 07:12
Record high exchange rate comes amid impasse over US debt talks
The yuan traded stronger than 6.10 per dollar for the first time in 20 years after the central bank raised its daily fixing rate to a near record high and the nation stepped up efforts to increase the Chinese currency's global use.
The yuan strengthened for three consecutive days and closed at a record high of 6.0995 against the US dollar in Shanghai on Wednesday amid the ongoing impasse over US debt talks, China Foreign Exchange Trade System prices showed.
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