Skip to content
Subscriber Only
Business
Economics

Yuan Gains to 19-Year High, Testing Top Band, on Growth Optimism

China’s yuan climbed to a 19-year high, reaching the top end of its permitted trading range for a seventh straight day, on bets growth in the world’s second-largest economy will regain momentum.

Economic growth will keep rebounding slightly in the rest of this year, Shanghai Securities News reported today, citing Fan Jianping, chief economist at the State Information Center. China’s new Politburo Standing Committee, which rules the party and hence the country, will meet the media on Nov. 15, a day after the congress ends. China equity funds recorded a ninth straight week of inflows in the week ended Nov. 7, EPFR Global data shows.