Yuan rises to 19-year high after increase of reference rate

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Source: Bloomberg
The Chinese Yuan appreciated to the highest level in 19 years after the People's Bank of China raised the daily reference rate by 0.08% to its strongest level since May 2012 at 6.2689 per U.S. Dollar, while the Yuan is still allowed to trade 1% on either side of the rate. The Yuan advanced by 0.06% closing at 6.2108 per U.S. Dollar and it rose by 0.31% this quarter.

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