Buoyed by a weaker US dollar and the fast recovery of China’s economy after the coronavirus outbreak, this week the Chinese yuan (renminbi) hit its strongest level against the greenback since May 2019.
Both the onshore and offshore Chinese yuan extended weekly gains against the dollar on Friday. In one week, the renminbi rose around one percent, from levels above 6.83 against the greenback to the current rate of 6.75.
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