[BREAKING] China Lifts Yuan Midpoint to 27-Month High

Illustration photo of a China yuan note from Yahoo Finance

SHANGHAI, Oct 21 (Reuters) - China’s central bank on Wednesday lifted its official yuan midpoint to a more than 27-month high, following gains in the spot market a day earlier.

The People’s Bank of China (PBOC) set the midpoint rate at 6.6781 per dollar prior to the market open, 149 pips or 0.22% firmer than the previous fix of 6.6930. It was the strongest guidance rate since Jul 16, 2018.

The yuan ended its domestic trading session at a more than 27-month high against the dollar on Tuesday, after the central bank set its daily guidance rate on the stronger side of a key threshold.

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