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Chinese Yuan Climbs to 7.09 per Dollar, Highest in Over a Year

Both onshore and offshore yuan strengthened, aided by seasonal settlement demand in Q4 and analysts’ expectations of limited US dollar index gains.

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Terms & Concepts
  • Onshore yuan (CNY): The official Chinese currency traded within mainland China under strict regulatory controls.
  • Offshore yuan (CNH): A version of the Chinese currency traded outside mainland China, such as in Hong Kong, with fewer restrictions.
  • US dollar index (DXY): A measure of the value of the US dollar against a basket of major foreign currencies.