Yuan Rises Most in Six Weeks on Exports, Stronger PBOC Fixing

Posted by Forexsq 1112 days ago (http://www.bloomberg.com)
img forexsq - China’s yuan gained the most in six weeks after the government reported the fastest export growth in five months and the central bank raised its reference rate.

The currency climbed to a 19-year high, testing the upper limit of its permitted trading band around the People’s Bank of China’s daily fixing. Overseas sales increased 11.6 percent from a year earlier in October and the nation’s $32 billion trade surplus was the largest since January 2009, official data showed on Nov. 10. The securities regulator said China will increase the quota for its Renminbi Qualified Foreign Institutional Investor program that allows yuan raised overseas to be invested in stocks and bonds in domestic markets. forex

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