RMB has appreciated by 3.8% relative to U.S. dollar

Up until July 31 from the beginning of exchange rate reform, Chinese currency, Reminbi (RMB) has appreciated by 3.8% relative to U.S. dollar, according to the People's Bank of China, China's central bank.

The central bank also revealed on August 10th that it will further improve RMB exchange rate formation mechanism and gradually enhance the flexibility of RMB exchange rate as to keep RMB exchange rate basically stable on a rational and balanced level.

By People's Daily Online