China Yuan Reference Rate Gains the Most in Two Months After Dollar Drop

China’s yuan reference rate strengthened the most in two months following a slump in the U.S. dollar yesterday.

The central bank set the yuan rate 0.18 percent stronger at 6.8003 per dollar today, the biggest increase since July 2. The currency is allowed to trade up to 0.5 percent either side of the fixing rate. The Dollar Index, used by IntercontinentalExchange Inc. to track the greenback against the currencies of six major trading partners, dropped 0.9 percent yesterday, the biggest daily decline since July 22.

To contact the reporter on this story: Belinda Cao in Beijing at lcao4@bloomberg.net

• Tweet
• More
  • Business Exchange
  • Buzz up!
  • Digg
• Print
• Email