Monday, June 21, 2010

Renminbi Ticks Up Against Dollar

By the close of trading today in Asia, China allowed the renminbi to advance 0.42 percent to 6.7976 per dollar. This is the highest level in nearly two years and the biggest one-day move since 2005.

It remains unclear how high China will allow the renminibi to float, and it remains unclear as to the composition of the new currency basket that China has fixed the renminibi to.

No comments:

Post a Comment