China’s yuan rises for sixth straight month, the longest streak since 2014, before Biden takes office

//China’s yuan rises for sixth straight month, the longest streak since 2014, before Biden takes office

China’s yuan rises for sixth straight month, the longest streak since 2014, before Biden takes office

The yuan’s exchange rate rose against the US dollar in November for the sixth straight month – its longest appreciation streak in six years, reflecting Beijing’s determination to boost the yuan’s international demand while also bracing for the incoming administration of US president-elect Joe Biden.The yuan is set for a gain of 1.6 per cent against the US dollar in November. The extended appreciation stretch is the yuan’s longest since the six-month period from May to October 2014. So far this…

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By | 2020-11-30T12:00:44+00:00 November 30th, 2020|Business|Comments Off on China’s yuan rises for sixth straight month, the longest streak since 2014, before Biden takes office