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Yuan hits two-month high against USD on Monday

2013-03-26 08:09 CNTV     Web Editor: yaolan comment

China's central bank set the yuan/dollar midpoint at 6.2692 on Monday, a vital psychological level and a two-month high.

Analysts say the move is a response to hopes that the Cyprus will avoid a banking crisis.

The mid-point has closely tracked the currency's movement in recent weeks. Spot yuan touched 6.2095 per dollar in early trade Monday, a 19 year high.

 

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