Economics
Yuan Set for Longest Run of Gains Since 2015 on Fixing, GDP Data
- PBOC boosts reference rate to the strongest in eight months
- There’re no major domestic reasons for yuan to decline: OCBC
China's 2Q GDP Tops Estimates on 6.9% Growth
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The onshore yuan rose for the sixth day in a row, the longest run of gains since 2015, boosted by a stronger central bank fixing and data showing China’s economy held up in the second quarter.
The yuan gained 0.05 percent to 6.7704 per dollar as of 5:14 p.m. in Shanghai, extending its six-day advance to 0.5 percent. This came after the People’s Bank of China set its daily fixing at the strongest level since November. The offshore rate dropped 0.05 percent to 6.7696.