According to Bloomberg.com and Xinhua's China View (the official news press), the Chinese renminbi (or yuan) is now at about 7.010 to the U.S. dollar.

Note that the "official rate" is set by the Chinese central bank, the People's Bank of China (or the Federal Reserve of China).  The markets can fluctuate by .5% on either side of the official rate.

When will the official rate fall below 7.00?  We'll see - however, my prediction (while at first was predicted at 7.00 before I left for the summer) was to be 7.00 by the end of March.  We're there!!!  I am amazed!

And yet, not too surprised, given the economic situation as it has developed: 

U.S. economic growth at .6% - 4th Quarter and flat now - Chinese growth still above 10%,

Inflation in the U.S. heating up but still below the 7.1% official rate in China,

Euro now above $1.50 to 1 (so a 50% appreciation versus the yuan's only 15% appreciation to the dollar),

Oil prices now clearly and consistently above $100 per barrel.

Stay tuned!