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China's yuan rises to new record against US dollar Monday

The central parity rate of the yuan, China's currency Renminbi (RMB), rose 62 basis points Monday to a new record high at 6.711 per US dollar, according to the data released by the China Foreign Exchange Trading System.

 

China's central bank announced on June 19 this year that it would further the reform of the formation mechanism of the yuan exchange rate to improve its flexibility.

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