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The Economic Times
The Economic Times
Business
Anupam Nagar

Global Market: Yuan strengthens as dollar retreats; China pushes back against undervaluation claims

United States China European Union Beijing Chinese Yuan Euro US Dollar

The Chinese yuan strengthened against the US dollar on Friday as the greenback retreated from an 18-month high, while Beijing defended its exchange-rate policy amid trade negotiations with the European Union, according to Reuters.

The onshore yuan opened at 6.7000 per dollar and was last trading at 6.6987 as of 0221 GMT, up 46 pips from the previous session's close. The offshore yuan rose around 0.07% to 6.6986 per dollar.

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