yuan strengthens to record high of 6.5651 per U.S. dollar
BEIJING, March 7 (Xinhua) -- The Chinese currency Renminbi (人民币)(RMB), or the yuan, on Monday strengthened to an all-time high of 6.5651 per U.S. dollar, according to the China Foreign Exchange Trading System.
Monday's central parity 1 rate of the RMB against U.S. dollar was 20 basis points lower than the previous record of 6.5671 set on last Friday.
The yuan has appreciated 3.84 percent since June 19 last year when the People's Bank of China, the central bank, announced it would further reform the exchange rate formation mechanism 2 to improve its flexibility 3.
On China's foreign exchange spot market, the yuan can rise or fall 0.5 percent from the central parity rate each trading day.
The central parity rate of the RMB against the U.S. dollar is based on a weighted average of prices before the opening of the market for each business day.(本文由在线英语听力室整理编辑)
- The two currencies have now reached parity.这两种货币现已达到同等价值。
- Women have yet to achieve wage or occupational parity in many fields.女性在很多领域还没能争取到薪金、职位方面的平等。
- The bones and muscles are parts of the mechanism of the body.骨骼和肌肉是人体的组成部件。
- The mechanism of the machine is very complicated.这台机器的结构是非常复杂的。
- Her great strength lies in her flexibility.她的优势在于她灵活变通。
- The flexibility of a man's muscles will lessen as he becomes old.人老了肌肉的柔韧性将降低。