Economics
China’s Yuan Rises Beyond PBOC Fixing for First Time Since March
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China’s yuan rose beyond the central bank’s fixing for the first time since the currency’s trading range was doubled, amid optimism a recovery in the world’s second-largest economy is gathering pace.
The yuan advanced 0.12 percent to close at 6.1633 per dollar in Shanghai, after climbing to an almost five-month high of 6.1624, China Foreign Exchange Trade System prices show. The closing level was 0.08 percent stronger than today’s reference rate of 6.1681, the first premium since the trading band was increased to 2 percent on March 17.