The Medial Rate of RMB Against U.S. Dollar Continues to Go Upward

The latest data from China Foreign Exchange Trade Center indicate that on November 19, the Medial Rate of RMB against US dollar was 6.6408. It was still going up based on the previous business day.

China Foreign Exchange Trade Center was authorized by People’s Bank of China to release on November 19, 2010 that the Medial Rate was one U.S.dollar against 6.6408 RMB, one Euro against 9.0584 RMB, 100 Japanese yen against 7.9478 RMB, one Hong Kong dollar against 0.85646 RMB, one pound against 10.6535 RMB, one RMB against 0.46933 Ringgit.

One day before, the Medial Rate of RMB against U.S. dollar was 6.6455.

Since all parts held urgent negotiations on the bailout of Ireland, the Eefa debt crisis began to play down, the market risk preference was gradually improving. Affected by this, the U.S.dollar index fell sharply, thus the Medial Rate of RMB against U.S. dollar continues to go upward.