China state banks seen buying dollar to ease sharp yuan rally, traders say ...Middle East

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China state banks seen buying dollar to ease sharp yuan rally, traders say
source : Devdiscourse ( Middle East ) () 51
China's major state-owned banks were seen buying U.S. dollars at the level of about 6.52 yuan on Thursday, traders said, in a move viewed as an effort to keep the yuan from rising too fast and breaching a key level. The onshore spot market opened at 6.5204 per dollar and surged to a high of 6.5148 at one point in morning trade, its loftiest since June 22, 2018.

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