China central bank sets yuan midpoint at strongest level in 2016
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[SHANGHAI] The People's Bank of China (PBOC) set its official midpoint rate at 6.4905 per dollar prior to the market open on Friday, its strongest fixing in 2016, after the greenback tumbled following the European Central Bank's bold easing measures.
The central bank's official guidance rate for the Chinese currency also strengthened 0.34 per cent from Thursday's fixing of 6.5127, its biggest daily strengthening since Nov. 2 last year.
The dollar index tumbled 1.1 per cent overnight after the ECB's easing steps, retaining its loss to remain nearly unchanged in early Asian trade on Friday.
REUTERS
Share with us your feedback on BT's products and services
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
20 photos that show how dramatically Singapore has changed in two decades
Singapore’s key exports up 15.3% in March from electronics surge, exceeding forecasts
