HONG KONG Dec 9 China's yuan barreled to a new
record high against the U.S. dollar on Monday after the central
bank fixed the daily midpoint at its highest level since a 2005
revaluation and following strong exports data over the weekend.
In opening trades, the Chinese yuan hit a record of 6.0761
per dollar compared to 6.0817 at Friday's close. The daily
midpoint was fixed at 6.1130 per dollar compared to 6.1232 on
In the past two sessions, the yuan has broken conclusively
out of its narrow trading range, indicating a noticeable shift
in the central bank's currency management strategy.
The yuan's early moves also came after November exports data
blew past forecasts indicating the yuan's rise this year hasn't
hurt exporters. Exports rose 12.7 percent from a year earlier,
the Customs Administration said on Sunday, against a median
forecast in a Reuters poll of a 7.1 percent rise.