April 26, 2012PBOC Sets Yuan At Record High Amid Renewed Pressures From Washington
The Chinese central bank guided the yuan to a fresh record high for the second straight day Friday, amid renewed pressure from Washington for Beijing to let its currency appreciate more and as a high-level Sino-U.S. economic dialogue approaches.
The People's Bank of China set the dollar/yuan central parity rate at 6.2787, the lowest level since China depegged its currency from the dollar in 2005 and down from Thursday's 6.2829. The reference exchange rate is also lower than Thursday's close at 6.3060 in over-the-counter trading.
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