China’s renminbi strengthened to a three-year high against the dollar as authorities signalled tolerance for an appreciating currency ahead of a meeting between Presidents Xi Jinping and Donald Trump this week.
The People’s Bank of China on Monday set the daily fixing around which the renminbi trades against the dollar at Rmb6.8467, its strongest level since March 2023.
The onshore renminbi traded as strong as Rmb6.795 a dollar, breaking past Rmb6.8 for the first time since February 2023.
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