THE Chinese yuan rallied among mixed emerging Asian currencies on Friday following better-than-expected economic data coupled with signals that the central bank's policy support measures have started to aid the struggling economy.
The People s Bank of China (PBOC) said it would cut the reserve requirement ratio (RRR) for all banks, except those that have implemented a 5% reserve ratio, by 25 basis points from Sept. 15. The move came after the world s second-biggest economy has struggled after its post-pandemic recovery faltered.