China raises midpoint for sixth straight day to fresh 14-month high

A clerk counts Chinese 100 yuan banknotes at a branch of China Construction Bank in Hai'an, Jiangsu province June 10, 2014. — Reuters pic
A clerk counts Chinese 100 yuan banknotes at a branch of China Construction Bank in Hai'an, Jiangsu province June 10, 2014. — Reuters pic

SHANGHAI, Sept 4 — China’s central bank raised its official yuan midpoint for the sixth straight session this morning to 6.5668 per dollar, the strongest level since June 23, 2016.

The higher fix follows gains in the spot yuan rate on Friday.

Today’s midpoint was 241 pips or 0.37 per cent firmer than the previous fix of 6.5909 set on Friday.

China’s yuan strengthened to a fresh 14-month high against the US dollar on Friday after its best month on record, buoyed by strong guidance while the dollar remained under pressure. — Reuters

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