China's Yuan Strengthens for Seventh Quarter on Exporter Dollar Sales

Economic Times Markets · stocks

China's yuan strengthened against the U.S. dollar, heading for its seventh consecutive quarterly gain. This appreciation is driven by increased dollar selling from exporters converting their earnings ahead of a national holiday and improved market sentiment following positive factory activity data. The yuan has seen a notable upward trend since late 2023, supported by robust exports and a weaker U.S. dollar. Recent economic stimulus measures from Beijing are also being assessed by investors for their potential impact on growth.