SHANGHAI: China’s yuan jumped to a more than one-week high versus the dollar on Thursday, buoyed by a firmer central bank midpoint and after comments by Chinese Premier that Beijing would not use yuan depreciation to support the economy, traders said.
Spot yuan opened at 6.1950 per dollar and strengthened to 6.1931 before settling back to 6.1960 by midday, to stand 0.15 percent stronger than Wednesday’s close.
The People’s Bank of China (PBOC) set the midpoint rate at 6.1305 per dollar prior to market open, 0.06 percent firmer than the previous fix at 6.134.
