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The Economic Times
The Economic Times
Business
Anupam Nagar

Global Market: China's yuan holds near 3-year high despite strong dollar; PBOC fixing supports currency

PBOC Chinese Yuan China US Treasury Monetary Policy Bonds

China's yuan held near its strongest level in three years and nine months on Tuesday. Central bank guidance is helping the currency withstand a stronger US dollar amid renewed concerns over global energy supplies and elevated US Treasury yields, according to a report by Reuters.

The onshore yuan was largely unchanged at 6.6972 per dollar, hovering near its strongest level since January 16, 2023. The offshore yuan traded at 6.698 per dollar, down around 0.05% during Asian trading.

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