Tatiana Kashyrskaia
Yesterday, the official exchange rate of Renminbi (the Chinese Yuan) vs the US Dollar increased by 12 basis ponts, thereby reaching the 8-year high – 6,1305. The information is reported by the Chinese currency exchange with reference to some official sources.
Profi-Forex.pro reports that this is the highest exchange rate since 2005, when the People's Bank of China introduced the official parity rate and banned price deviations above 1% a day.
Masterforex-V Academy experts report that the Chinese currency is behaving so due to big-scale social and economic reforms that are being gradually unfolded in China. Not so long ago, Renminbi entered the TOP10 of most traded currencies.
The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of USDCNY:
Tatiana Kashyrskaia
