Chinese yuan reaches strongest level against US dollar since 2018
RT.com
10 May 2021, 22:12 GMT+10
China s currency, the yuan, has nearly hit a three-year high against the US dollar. The rally comes shortly after weak US jobs data weighed on the greenback, and as China continues its strong recovery from Covid-19.
The onshore yuan gained as much as 0.3% to 6.4114 a dollar on Monday, according to Bloomberg data. It means the Chinese currency has recovered all its losses seen earlier this year, and hit its strongest level against the greenback since June 2018. The yuan also surged against other currencies. The CFETS RMB Index, which tracks the yuan s performance against the US dollar as well as 23 other currencies, was almost at a three-year high.