The Chinese currency Renminbi, or the yuan, marched to a new record high against the US dollar on Monday.
The yuan strengthened 26 basis points to reach 6.1024 per US dollar, the strongest since July 2005, when the country launched reforms of the exchange rate mechanism, according to the China Foreign Exchange Trading System.
The People's Bank of China, the country's central bank, on Friday set the dollar-yuan central parity rate at 6.1050, stronger than Thursday's 6.1156.
The value of the yuan has risen nearly 3 percent against the greenback since the start of this year.
In China's foreign exchange spot market, the yuan is allowed to rise or fall by 1 percent from the central parity rate each trading day.
The central parity rate of the yuan against the U.S. dollar is based on a weighted average of prices before the opening of the market each business day.
China yuan strengthens to 6.1156 against USD Thursday
2013-12-26China yuan weakens to 6.1160 against USD Wednesday
2013-12-25China yuan strengthens to 6.1145 against USD Tuesday
2013-12-24China yuan strengthens to 6.1161 against USD Monday
2013-12-23China yuan weakens to 6.1196 against USD Friday
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