China’s currency strengthened on Thursday, helping to lift the renminbi back from its lowest point since early 2017 that it touched a day earlier.
The onshore renminbi exchange rate, which moves within a trading band of 2 per cent either side of a daily midpoint set by the People’s Bank of China, was 0.6 per cent firmer at Rmb6.895 against the dollar, as it moved off a 19-month low of Rmb6.9331, hit a day earlier.
The offshore renminbi, which is not limited by the band, was 0.8 per cent stronger at Rmb6.8931 to the dollar. While the dollar index, measuring the greenback against a basket of major peers, was 0.2 per cent lower,
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