Yuan At Record High Versus DollarMay 30, 2011 7:10 am
We spotted this today:
“China’s yuan has hit a record high against the US dollar after the US Treasury department said the Chinese currency was undervalued but not manipulated.
The People’s Bank of China (PBOC) fixed the yuan’s mid-point at 6.4856 against the US dollar on Monday.
China has been accused by the US and other developed economies of keeping the value of its currency artificially low to boost its exports.
China is the world’s biggest exporter.”
Statistics Source: BBC News