Renminbi Passes 7:1 Mark Against US Dollar

Posted April 5th, 2008 by Josh

You may not have noticed this, but the Renminbi has now surpassed the 7:1 ratio to the US Dollar. Bank of China is now listing the official rate at 6.99:1. The symbolism of this barrier is more important than the actual change, but it shows the long trend that has significantly sped up, particularly this [...]

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