20:56, 17-Jan-2018
RMB Exchange Rate: Chinese yuan strengthens to fresh high against USD
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The midpoint rate of the Chinese yuan against the US dollar has reached the highest level in more than two years.
The Chinese currency already has risen 1.2 percent against the dollar this year. The yuan stood at 6.4 against the dollar, rising 37 basis points on Wednesday. Analysts believe the strong yuan is attributed to a weakening dollar and a stable Chinese economy. They expect the yuan to stable in the long run.
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