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China onshore yuan steady, offshore edges up on softer dollar
![IndiaTimes]()
Friday, 3 November 2023
The Chinese yuan remained stable in onshore trade, while its offshore counterpart strengthened against a weakening dollar as investors reacted positively to a pause in US interest rate hikes. The People's Bank of China set the midpoint rate at 7.1796 per US dollar. The market awaits US jobs data later in the day for further policy direction. The China Center for Economic Research predicts the onshore yuan will trade between 7.28 and 7.33 in November, supported by economic recovery and efforts to stabilize the exchange rate.
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Friday, 3 November 2023
