Chinese Yuan Edges Higher Against U.S. Dollar
The firmer fix signals modest but deliberate strengthening in the official reference rate, which forms the daily anchor for the world's second-largest economy's tightly managed currency.
Under China's foreign exchange framework, the yuan is permitted to fluctuate no more than 2 percent above or below the central parity rate within any single trading session in the spot market — a mechanism designed to allow market movement while preventing sharp, destabilizing swings.
The daily reference rate itself is calculated each business day before the interbank market opens, derived from a weighted average of quotes submitted by designated market makers — a process intended to reflect prevailing market conditions while keeping Beijing's hand firmly on the currency's direction.
Thursday's adjustment, though incremental, comes as currency markets remain sensitive to shifts in U.S.-China trade dynamics and broader dollar momentum.
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