Pacific Ocean, travel, Hawaii, Kauai,
Pacific Ocean, travel, Hawaii, Kauai,

Pacific Tribune

Gathering Art and Lifestyle News about Issues for the Pacific Basin
October 29th, 2007

Yuan hits new high on weakened greenback

Yuan hits new high on weakened greenback

China’s currency reached a new record high against the US dollar on Monday as the greenback continued to weaken on speculation of another interest rate cut by the Federal Reserve.  Before trading started on Monday, the People’s Bank of China (PBOC) set the yuan at 7.4718 relative to the dollar. The new midpoint marked the fifth consecutive session of gains. The yuan can move 0.5 percent up or down the midpoint each day.

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Posted in China, dollar, international trade |

This entry was posted on Monday, October 29th, 2007 at 4:32 pm and is filed under China, dollar, international trade. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

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