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China's yuan hits over 4-year high, set for fourth monthly gain
SHANGHAI: China’s yuan firmed against the US dollar to its strongest level in more than four years on Friday and was headed for a fourth straight month of gains, as traders said exporters continued to convert dollar holdings into the local currency. The spot yuan opened at 6.6600 per dollar and was last changing hands at 6.659 as of 0240 GMT, its strongest since June 6, 2022 and 22 pips firmer than the previous late-session close. The currency is on course to notch its fifth consecutive weekly advance and fourth straight monthly gain. The yuan has strengthened 5.0% so far this year, buoyed by...
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