The yuan finished at a record high of 7.7740 to the dollar in the over-the-counter (OTC) market today, compared with 7.7900 Tuesday.In the exchange-traded market, the yuan finished at 7.7750 to the dollar, compared with 7.7890, a Beijing-based trader said.

The currency traded between 7.7806-7.7740 in the OTC market, and between 7.7786-7.7750 in the exchange-traded market.

The central bank today set the central parity rate at a record level 7.7798, compared with yesterday’s 7.7895.

There is a growing pressure by US and other western countries to increase the value of the chinese currency and this way reduce the chinese trade surplus.

 

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