The yuan advanced further to a more than 27-month high against the dollar on Wednesday, led by firmer central bank guidance and recent data showing a sustained recovery in the world's second-largest economy.
Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate at 6.6781 per dollar, 149 pips or 0.22% firmer than the previous fix of 6.6930 and the strongest guidance since July 16, 2018.
The onshore yuan opened at 6.6699 per dollar and was changing hands at 6.6549 at midday, its strongest since July 13, 2018, and 221 pips firmer than the previous late session close.
Official data released this week showed China's economic recovery accelerated in the third quarter as consumers shook off their coronavirus caution.
04 Dec 2020 04:48 PM
India's benchmark stock index retreated to close above 45,000 points for the first time ever as the RBI upgraded its GDP target for the current fiscal year and kept interest rates steady amid high inflation.
04 Dec 2020 03:57 PM
Indian rupee stayed higher tracking uptick in regional peers
04 Dec 2020 11:51 AM
Indian equities touched record highs after the RBI kept interest rates steady due to high inflation, and retained its accommodative monetary policy stance
04 Dec 2020 11:35 AM
Yuan rose to a fresh 2 1/2-year high against a weakening dollar, despite fresh signs of tension between the US and Chinese economy.
04 Dec 2020 11:01 AM
Gold prices strengthened and are on track for their first weekly gain in a month, as growing optimism over a U.S. fiscal stimulus deal pressured the dollar and boosted Gold appeal as an inflation hedge.
04 Dec 2020 10:44 AM
Indian rupee was trading at 73.73/73.74 compared to 73.90/ 73.91 in the previous session, as the Dollar Index continued to decline in anticipation of the U.S. monthly non-farm payrolls report.