Chinanews, Beijing, November 27 – According to the People's Bank of China, RMB's exchange rate against the US dollar has hit 7.8402 today (November 27, 2006), a new high.

 

US dollar's tendency of depreciation in the international market is one of the main reasons for the appreciation of RMB. Besides, the news that Henry M. Paulson, Jr., Secretary of the Treasury and Ben S. Bernanke, Chairman and a member of the Board of Governors of the Federal Reserve System, will visit China, has also boosted the value of RMB.

 

RMB's exchange rate against other international currencies are as follows: 1 euro against 10.2971 yuan, 100 yen against 6.7787 yuan, 1 HK dollar against 1.00797 yuan, and 1 British pound against 15.2001 yuan.