CCTV.com - CNTV English - CCTV News

Chinese currency hits new high

11-12-2010 16:38 BJT

Watch Video

Play Video

China's currency, the Renminbi, strengthened 3 basis points Friday to 6.6239 against the U.S.dollar -- a new record high.

The stronger Yuan came as the consumer price index,hit a 25-month high at 4.4 percent in October. The CPI is a major gauge of inflation in a country.

The central bank said it will raise bank's reserve requirement ratio by 50 basis points, November 16th, as concerns about inflation and excessive liquidity rise. At present, the RMB is allowed to float on the inter-bank foreign exchange market within a daily limit of half a percent each way of the central parity rate.

Editor:Zhang Ning |Source: CNTV

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program