Off­shore yuan set for record five-day gain

China Daily (Canada) - - BUSINESS -

The yuan traded in­HongKong headed for the big­gest five-day gain on record as China’s cen­tral bank stead­ied the cur­rency’s fix­ing and in­ten­si­fied ef­forts to curb out­flows. The mon­e­tary au­thor­ity kept the yuan’s ref­er­ence rate lit­tle changed for the fourth day in a row. It set the fix­ing, which re­stricts on­shore moves to a max­i­mum 2 per­cent on ei­ther side, at 6.5630 a dol­lar, 0.18 per­cent stronger than the on­shore yuan’s of­fi­cial clos­ing price of 6.5750 on Tues­day.

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