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China lifts yuan midpoint to 27-month high

10/20/2020 | 09:23pm EST

SHANGHAI, Oct 21 (Reuters) - China's central bank on Wednesday lifted its official yuan midpoint to a more than 27-month high, following gains in the spot market a day earlier.

The People's Bank of China (PBOC) set the midpoint rate at 6.6781 per dollar prior to the market open, 149 pips or 0.22% firmer than the previous fix of 6.6930. It was the strongest guidance rate since July 16, 2018.

The yuan ended its domestic trading session at a more than 27-month high against the dollar on Tuesday, after the central bank set its daily guidance rate on the stronger side of a key threshold.

(Reporting by Winni Zhou and Andrew Galbraith Editing by Shri Navaratnam)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF CHINA LIMITED 0.00% 2.72 End-of-day quote.-18.32%
UNITED STATES DOLLAR (B) / CHINESE YUAN IN HONG KONG (USD/CNH) 0.00% 6.5155 Delayed Quote.-6.12%
US DOLLAR / CHINESE YUAN RENMINBI (USD/CNY) 0.00% 6.5301 Delayed Quote.-6.03%
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