FxWirePro: CNY firmer against the dollar, up 0.08 pct
China's yuan edged up against the dollar by midday on Thursday as a recovery in the country's major stock indexes boosted sentiment on the currency in spite of a weaker midpoint. Traders cited large transactions by state…
China's yuan edged up against the dollar by midday on Thursday as a recovery in the country's major stock indexes boosted sentiment on the currency in spite of a weaker midpoint.
Traders cited large transactions by state-owned banks possibly on behalf of the central bank, which supported the Chinese currency in both spot and derivative markets.
China's yuan closed firmer against the dollar on Thursday, 0.08 percent stronger than the previous close of 6.4105.
The spot market opened at 6.4155 per dollar but reversed its earlier losses to close at 6.4053.
Onshore one-year yuan/dollar deliverable forwards were quoted at 6.5208 late on Thursday from Wednesday's close of 6.5790.
