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Yuan spiked in 2013 as illicit funds flooded China

SHANGHAI -- The Chinese currency staged the sharpest appreciation against the dollar in two years in 2013, lifted up by a flood of money brought into the country by unscrupulous parties looking to reap profits from relatively high interest rates.

     The yuan climbed 2.91% against the greenback over the year. It traded at 6.0539 to the dollar in the Shanghai foreign exchange market Tuesday, marking a record high for the third straight trading day.

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