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China's yuan climbs to another record high against U.S. dollar (2) |
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13:07, July 25, 2007 |
Tan Yaling, a research analyst with the Bank of China earlier warned the continued yuan revaluation in a single direction may adversely affect the country''s economic and financial security.
Some economists are worried that persistent anticipation of yuan''s appreciation would attract more speculative fund into the country and worsen the excessive liquidity problem faced by the Chinese government.
On Wednesday, the central parity rate of RMB against the euro went up 352 basis points from Tuesday''s figure to stand at 10.4368, while yuan''s value against the Japanese yen gained 240 basis points to 6.3031 yuan against 100 yen.
Source: Xinhua
[1] [2]
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