On August 16, the Chinese currency (RMB) appreciated to a record 6.3925 against the US dollar, according to the China Foreign Exchange Trading System (CFETS), a sub-institution of China's central bank.
World Bank president Robert B. Zoellick has said that, in view of China's inflation data, the RMB will continue to appreciate. Meanwhile, Standard Chartered Bank expects the RMB to appreciate by between four and five percent in the next 12 months.