Yuan surges against dollar amid China reopening rumour, offshore yuan posts record gains against dollar
Yuan surges against dollar amid China reopening rumour, offshore yuan posts record gains against dollar

Yuan surges against dollar amid China reopening rumour, offshore yuan posts record gains against dollar

The offshore yuan extends gains against the US dollar to more than 1,400 pips, or nearly 2%, to recover 7.19 per dollar mark, now trading 7.1864 per dollar.

The onshore extends gains against the greenback to more than 1,300 pips or 2% to break through 7.18 per dollar mark. 

The US Dollar Index tumbles by 1% to hit 111.8, leading to a sharp rally in non-dollar currencies.