The rate of the Chinese yuan against the U.S. dollar has hit a seven-month high.

The China Foreign Exchange Trade System said that the Chinese currency traded at six-point-3429 yuan per dollar on Wednesday, up zero-point-009 yuan from the previous day.

The yuan has risen to higher than six-point-34 yuan per dollars for the first time since mid-December last year.

Experts say that the yuan has been depreciating, as dampened consumption has negative effects on China’s trade amid the European debt crisis.