Offshore Yuan Posts Strong Gains
The offshore Chinese yuan strengthened notably against the US dollar on Friday’s Asian session, gaining 62 basis points from Thursday’s New York close to settle at 6.9760.
Narrower Intraday Range
Trading remained within the 6.9717 to 6.9843 range, indicating improved investor confidence and reduced volatility, suggesting a more balanced market environment.
- Final rate: 6.9760
- Session high: 6.9717
- Session low: 6.9843
- Daily change: +62 bps
This move reflects rising optimism toward China’s economic outlook and a renewed interest from global investors in yuan-denominated assets as capital flows stabilize.