 "Yuan's biggest boost in 10 yrs")
China on Monday raised the daily reference rate for the yuan by the largest margin in a decade, officials and reports said, just three months after a surprise devaluation sent shockwaves through global markets.
The central People's Bank of China adjusted the central rate of the yuan - also known as the renminbi (RMB) - upwards by 0.54 per cent against the US dollar, according to a statement. The increase was the largest since 2005 when Beijing unpegged the yuan from the dollar, Bloomberg News reported.
The central People's Bank of China adjusted the central rate of the yuan - also known as the renminbi (RMB) - upwards by 0.54 per cent against the US dollar, according to a statement. The increase was the largest since 2005 when Beijing unpegged the yuan from the dollar, Bloomberg News reported.