Views Article – Sharenet Wealth

Asia, Forex

China lifts yuan midpoint to highest since July 2019

SHANGHAI, Jan 21 (Reuters) – China’s central bank on Tuesday lifted its official yuan midpoint to the highest in 6-1/2 months to reflect strong gains in the spot yuan in the previous session.

The People’s Bank of China (PBOC) set the midpoint rate at 6.8606 per dollar prior to the market open, 58 pips or 0.08% firmer than the previous fix of 6.8664 and the strongest since July 2, 2019.

The spot yuan edged up to a six-month high on Monday, with traders expecting the currency to stay firm before the week-long Lunar New Year holiday. (Reporting by Winni Zhou and David Stanway; Editing by Himani Sarkar)

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