RMB Hits 17-Year High vs. USD on Tuesday
December 27, The Chinese currency renminbi strengthened 15 basis points to 6.3152 against the U.S. dollar on Tuesday, the highest since 1994, according to the China Foreign Exchange Trading System. Based on a weighted average of prices, the People’s Bank of China, or central bank, sets the central parity rate of the renminbi against the…