Chinese yuan rises against dollar after Fed cut

01/24/2008 | People's Republic Daily (China)

China's currency climbed to another record against the U.S. dollar Thursday following a surprise cut in U.S. interest rates. The yuan rose from 7.2350 yuan Wednesday to 7.2293. The yuan has appreciated more than 12% against the dollar since Beijing ended the currency's peg to the greenback.

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People's Republic Daily (China)

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