IND: Chinese Yuan Tests Fresh High Of 6.5849 Against Dollar
The Chinese currency, or the yuan, on Thursday rose to a fresh high of 6.5849 against the U.S. dollar, according to the China Foreign Exchange Trading System.
The central parity rate of the yuan, or RMB, was 1 basis point higher than the previous record of 6.585 set on Feb. 9, the previous trading day.
The central parity rate has risen against the dollar for a three consecutive trading days.
China's central bank announced on June 19 last year that it would further reform the yuan exchange rate formation mechanism to improve its flexibility.
