All About The Maos!
October 31st, 2007 by MegI heard this on CCTV9 last night, and the “66th new record high” got my attention. That’s propaganda-speak for “steady improvement”, but this is pretty impressive even without the overblown description.
The Chinese Foreign Exchange Trading System says the renminbi (RMB) broke the record 7.47 mark on Wednesday, with the central parity rate at 7.4692 yuan to one U.S. dollar.
In six consecutive trading days, the renminbi, or yuan, has broken the record high four times. It climbed 28 basis points from previous trading at 7.472 yuan to one dollar, rising a total 3,395 basis points from 7.8087 yuan on the last trading day of 2006.
This is the 66th new high the yuan has hit since the beginning of this year - that’s up more than four percent overall.
Good news for me and my Chinese paycheck, but not so great not for those traveling to China. Watch the video from CCTV9.
November 1st, 2007 at 12:06 am
[...] ranthambhoretravel.in wrote something that might interest you todayHere’s a brief breakdown I heard this on CCTV9 last night, and the “66th new record high” got my attention. That’s propaganda-speak for “steady improvement”, but this is pretty impressive even without the overblown description. The Chinese Foreign Exchange Trading System says the renminbi (RMB) broke the record 7.47 mark on Wednesday, with the central parity rate at 7 [...]