Yuan Surges to Record High Against Dollar

For the first time since the Chinese government relaxed its peg to the dollar in 2005, the Yuan has risen past 7 to the dollar, settling at $6.9907. This marks an 18.4% advance, with more gains likely as Chinese officials scramble to tackle runaway inflation.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.