yuan vs US dollar: on the verge of breaking 7
Despite the last few days in March when the yuan kept the integer barrier at 7, the mid-price on March 31 was 7.019. However, in the past three months, the yuan still appreciated by 4%, setting a new record high. It refreshed the record of quarterly increase of 2.77% just set in the fourth quarter of last year, and it was also the largest quarterly appreciation of yuan since the establishment of China's foreign exchange market in 1994. Last year, the yuan appreciated only about 6.5% against the US dollar for the whole year.