BEIJING  China’s currency, the yuan, rose against the dollar on Thursday, reaching a milestone that is just the latest sign of this country’s growing economic power.

For the first time in more than a decade, the dollar bought less than 7 yuan, ending the day close to 6.9920, a situation that specialists say will probably make Chinese-made goods more expensive for American consumers and possibly contribute to inflation in the United States.

The gains for the Chinese currency have come after Beijing’s decision to end a longstanding peg to the dollar in July 2005, when a single dollar bought about 8.3 yuan or renminbi.

Beijing lifted the peg after American and European officials had complained for years that the yuan was set artificially low, making Chinese goods cheaper than they would normally be and giving China an unfair trade advantage.