Press "Enter" to skip to content

More gains expected for Chinese yuan after biggest one-week rise since 2005

CHECK THE WIRE FOR REAL-TIME NEWS UPDATES

The Chinese yuan surged on Friday to hit the strongest level since late July last year, boosted by a weaker dollar and rising hopes of progress in the China-US trade talks.

In the onshore market, the Chinese currency strengthened 1.8 percent this week, the biggest one-week gain since July 2005 when Beijing abandoned the yuan’s peg to the greenback. The offshore yuan closed at 6.7609 per USD last week.

The rally has brought the yuan . . .

To continue reading, please subscribe. You will get

  • Original and in-depth reporting on China's economy and financial markets 
  • Details, data and perspectives you don't read elsewhere
  • THE WIRE - a Real-Time News platform that delivers everything important about China's economy, companies, stocks, bonds, commodities and the yuan.
  • Daily Brief newsletters to get you prepared for every trading day

 

FREE TRIAL cancel any time

We highly value independence. We are solely funded by subscriptions from thousands of readers like you.  

Already have an account? Sign In

 

Top