Chinese Currency Revalued
Published July 21st, 2005Tagged: china | uk
Bangkok Post Friday 22 July 2005 - Chinese currency revalued
The currency was revalued to 8.11 yuan to the US dollar compared with the old rate of 8.2765 yuan, equal to a 2% revaluation. The yuan will also be allowed to move 0.3% against the new rate under a trading band tied to a basket of currencies.
Doh! I was hoping they were going to wait until I had a decent handfull of Yuan before they did this! :)
Good news overall, however and it was just waiting to happen…
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