A clerk counted renminbi bank notes at a bank in Hai’an city in eastern China’s Jiangsu province on  December 6, 2021. Photo: AP
A clerk counted renminbi bank notes at a bank in Hai’an city in eastern China’s Jiangsu province on December 6, 2021. Photo: AP
Yuan

Yuan strengthens to a 4-month high on optimism over prospects of China’s post-Covid economic recovery

  • Before the currency market’s opening, the People’s Bank of China (PBOC) set the yuan’s midpoint rate at 6.9475 per dollar, 171 pips firmer than the previous fix
  • In the spot market, onshore yuan opened at 6.9200 per dollar before rising to a high of 6.8785, while the offshore yuan touched a four-month high of 6.882 per dollar

A clerk counted renminbi bank notes at a bank in Hai’an city in eastern China’s Jiangsu province on  December 6, 2021. Photo: AP
A clerk counted renminbi bank notes at a bank in Hai’an city in eastern China’s Jiangsu province on December 6, 2021. Photo: AP
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