Yuan spot price per USD hits record high - Xinhua | English.news.cn: BEIJING, Nov. 13 (Xinhua) -- The spot price of the yuan against the U.S. dollar rose to 6.2262 on Tuesday, marking a record high since China's foreign exchange reforms seven years ago.
Tuesday was the second consecutive day that the spot price of the yuan against the U.S. dollar hit a record high since China launched its foreign exchange reforms in 2005.
Enterprises and banks have been selling off foreign currencies in anticipation of the yuan's appreciation, pushing up the price of the currency, said Ding Zhijie, an economics professor at the University of International Business and Economics.
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