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| Tags: against, days, dollar, falls, straight, yuan |
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08-12-2008, 04:29 AM
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Yuan falls against U.S. dollar for 11 straight days
China's currency on Tuesday dropped against the strengthening U.S. dollar for the 11th consecutive day, the longest continuous fall since it was unpegged from the dollar in July 2005. The central parity rate of the yuan, or Renminbi (RMB), was 6.8659 to the dollar, according to the China Foreign Exchange Trading System. The reference rate was down 21 basis points from the previous trading day. Analysts attributed the depreciation to the stronger dollar buoyed by the further falli ...
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