China's central bank fixed the onshore yuan rate 0.12 percent up at 6.3028 against the US dollar on Wednesday, a four-month high.Â
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The move helped push the onshore yuan spot to a 19-year high of 6.2532 and offshore yuan spot to an all-time record of 6.2540.Â
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The currency appreciated in the forward market both onshore and offshore.Â
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It's not the first time the yuan has hit records in recent months, as the US' new round of quantitative easing cheapened the greenback.Â
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The yuan touched a high of 6.2578 in mid-day trading on Friday after breaking through 6.30 for the first time in decades on Sept 20.Â
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The Chinese currency has fluctuated more widely and frequently after the country widened the yuan's fluctuation band against the US dollar earlier this year.Â
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The central bank said in April that the yuan's daily fluctuation band will be widened from 0.5 percent to 1 percent, showing the country's determination to make the yuan more market-oriented.Â
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In a briefing in Beijing on Wednesday, Foreign Ministry spokesman Hong Lei denied charges that China manipulates its currency.Â
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Central bank Deputy Governor Yi Gang said earlier that the yuan's exchange rate is close to being in equilibrium.Â
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The appreciation came as Chinese exports increased more than expected in September, leading to a trade surplus of $27.67Â billion.Â
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A currency tends to appreciate amid trade surpluses in a free foreign exchange market.