Monday, January 09, 2017

Yuan May Be Jumping, But Questions Around China's Reserves Persists

Chinese yuan starts new year journey with big jump

SHANGHAI - The Chinese yuan, or renminbi, started the new year with a big jump, surprising the market with a strong strengthening performance. The central parity rate of the yuan continued to strengthen against the US dollar on Friday by a hefty 639 basis points to reach 6.8668, the highest within a month, according to the…