Sunday, June 20, 2010

China Dollar Trading Begins

China set the dollar-yuan parity rate at 6.8275, matching the same level as Friday's parity rate, and compares to Friday's OTC close of 6.8262, reports WSJ.

This indicates any appreciation in the yuan will be very slow BUT the shrinking of the role the dollar vis a vis the yuan is where the Chinese focus is.


After China keeps the yuan parity rate unchanged from Friday's, the Australian dollar falls to US$0.8754 from US$0.8819.

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