Business
20:42, 10-Aug-2017
Chinese yuan strengthens to 6.677 against USD Thursday
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China's yuan firmed against the US dollar on Thursday, after the central bank lifted its guidance to the strongest level in 10 and a half months.
Prior to market opening, the People's Bank of China set the yuan midpoint at 6.6770 per dollar. It was the first setting stronger than the psychologically important 6.7 per dollar level since September 30th, 2016.
In the spot market, the yuan opened at 6.6600 per dollar and was changing hands at 6.6713 at midday, 32 pips firmer than the previous late session close. The yuan has gained nearly 0.9% against the greenback so far this week.