for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

China lifts yuan midpoint to highest level in 29 months

SHANGHAI, Nov 17 (Reuters) - China’s central bank on Tuesday lifted its official yuan midpoint to the highest in nearly 29 months, underpinned by solid gains in spot prices a day earlier.

The People’s Bank of China (PBOC) set the midpoint rate at 6.5762 per dollar prior to the market open, 286 pips, or 0.43%, firmer than the previous fix of 6.6048.

It was the strongest guidance rate since June 27, 2018.

Reporting by Winni Zhou and Andrew Galbraith; Editing by Tom Hogue

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up