China’s Yuan Rises to 18-Year High Ahead of Xi’s Visit to U.S.
February 10, 2012, 2:52 AM ESTBy Kyoungwha Kim
Feb. 10 (Bloomberg) -- The yuan rose to an 18-year high before Chinese Vice President Xi Jinping visits the U.S. next week.
The yuan traded at 6.2916 per dollar as of 9:42 a.m. in Shanghai, after touching 6.2884, the strongest level since the country unified the official and market exchange rates at the end of 1993. The People’s Bank of China fixed the reference rate at a record 6.2937 per dollar.
To contact the reporter on this story: Kyoungwha Kim in Singapore at kkim19@bloomberg.net
To contact the editor responsible for this story: Sandy Hendry at shendry@bloomberg.net
