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Yuan hits fresh high since 2022 on export growth, stronger guidance
HONG KONG: China’s yuan hit its highest level in more than four years on Tuesday after the central bank guided the currency stronger, while corporate settlement demand amid robust export growth further underpinned its strength. The yuan rose to as much as 6.6789 per dollar in morning trades, its strongest level since June 28, 2022. The offshore yuan traded at 6.6787 yuan per dollar, up about 0.05% and also at a more-than-four-year high. China’s economic growth rebounded from a three-year low, expanding 4.5% last quarter and beating forecasts, as exports and industrial output continued to driv...
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