Saturday, January 19, 2008

Yuan advances

THE yuan posted a sixth weekly gain, the longest stretch in seven months, on speculation China will allow the currency to appreciate to cool the economic expansion and bring inflation down from an 11-year high.

The currency's advance so far this year is the best since China abandoned a link to the dollar in July 2005.

The yuan rose 0.28 percent to 7.2418 against the dollar this week as of the 5:30pm close in Shanghai.

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