<p>The <keyword id="62260" type="COMPANY" weightage="60" keywordseo="Yuan">yuan</keyword> hit a 19-year high on Friday, after the People's Bank of <keyword id="1334" type="COUNTRY" weightage="60" keywordseo="China">China</keyword> raised the daily reference rate by 0.08 percent to 6.2689 per dollar, <a href="http://www.bloomberg.com/news/2013-03-29/china-s-yuan-rises-to-19-year-high-as-central-bank-boosts-fixing.html?utm_source=Sinocism+Newsletter&amp;utm_campaign=532207af75-Sinocism03_31_13&amp;utm_medium=email">according to Bloomberg. </a></p>
<p>The yuan is allowed to trade in a 1 percent band with the U.S. dollar. Some argue that <a href="http://www.bloomberg.com/news/2013-03-29/china-s-yuan-rises-to-19-year-high-as-central-bank-boosts-fixing.html?utm_source=Sinocism+Newsletter&amp;utm_campaign=532207af75-Sinocism03_31_13&amp;utm_medium=email">political factors</a> have driven yuan appreciation now that Xi Jinping is making international visits as China's new president.</p>
<p>Here's a one month chart that shows one (onshore) yuan in dollar terms:</p>
<p><div class="image-container" style="width:587px"><div class="image"><img src="http://static6.businessinsider.com/image/51584b7969bedda561000016-702-298/picture 10-127.png?maxX=587&amp;maxY=249" border="0" alt="CNY ytd record high chart" width="587" height="249" /></div><p class="source">Google Finance</p></div></p>
<p> </p>
<p>And here's five-year chart:</p>
<p><div class="image-container" style="width:584px"><div class="image"><img src="http://static2.businessinsider.com/image/51584bd569bedda66100002a-699-297/picture 11-96.png" border="0" alt="china yuan five year chart" width="584" height="248" /></div><p class="source">Google Finance</p></div></p>

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China's Yuan Hit A 19-Year High

The yuan hit a 19-year high on Friday, after the People's Bank of China raised the daily reference rate by 0.08 percent to 6.2689 per dollar, according to Bloomberg. The yuan is allowed to trade in a 1 percent band with the U.S. dollar. Some argue that political factors have driven yuan appreciation now that Xi Jinping is making international visits as China's new president. Here's a one month chart that shows one (onshore) yuan in dollar terms: Google Finance And here's five-year chart: Google Finance

The yuan hit a 19year high on Friday, after the Peoples Bank of China raised the daily reference rate by 0. 08 percent to 6.

China's Yuan Hit A 19-Year High

Mamta Badkar

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