Yuan ends up

25 May, 2013

The central bank fixed a record high midpoint for the yuan on Friday despite the dollar's overnight rally, allowing the spot market to push it to a new high, which some traders said could signal a quickening pace of reforms for the currency regime. Spot yuan changed hands at 6.1276 against the dollar in late morning Trade, its highest since China established the domestic foreign exchange market in 1994. It eased slightly to close at 6.1316, still up from 6.1340 at Thursday's close.

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