RMB 1 to $6.5849 for intermediate price

The PBOC authorized the China Foreign Exchange trading Center to announce that February 10, 2011, the interbank exchange rate of USD 1 to RMB 6.5849 yuan, compared with the middle price of 9th 6.5850 yuan Lower 1 basis points.　　The renminbi has again hit a new high after the exchange rate. However, as of closing, the USD/RMB inquiry system closed at 6.5869, down 57 points from the previous session. In the offshore market, the 1-year dollar/renminbi non-principal delivery rose 6.4315/6.4355 yuan, meaning the market expects the renminbi to rise by 2.4% against the dollar over the next year.　　Liu, director of economic research at ANZ Greater China, has just predicted that the renminbi will remain on a consistent upward trend, with the renminbi expected to rise 5% per 6% against the dollar in 2011, without significant internal and external factors. The House fundraising committee Democratic Leader Levin said 9th he will again propose a bill similar to the one passed by the House of Representatives in 2010, which aims to remain China's exchange rate policy. Levin said he would propose the bill on 10th, which currently has 19 Republican joint sponsors.