China's yuan breaks 7 mark against USD (Apr 10)

    BEIJING, April 10 (Xinhua) -- China's currency, the yuan, was set to trade at 6.992 yuan against the U.S. dollar on Thursday, breaching the 7-yuan mark for the first time since the government unpegged it from the dollar in 2005.

    Following an overnight fall of the dollar, the central parity rate of the yuan, or Renminbi (RMB), gained 105 basis points to 6.992 yuan against the dollar on Thursday, according to the China Foreign Exchange Trading System.

    For more reading: http://news.xinhuanet.com/english/2008-04/10/content_7951437.htm