China Said to Take Rare Step of Bolstering Yuan's Offshore Value
- Currency rises most on record in the offshore market
- Yuan will be kept stable at reasonable level, premier says
China's Battle to Manage Slowing Growth
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China appeared to expand efforts Thursday to bolster its currency in what traders said is an attempt to align its exchange rates at home and abroad.
The yuan rose a record 1.2 percent in the offshore market amid speculation the People’s Bank of China was again acting to contain the months-long turmoil in Chinese financial markets.