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Chinese Yuan May Surge past 6.2 on Dollar: News

MNI (Singapore)

The yuan may gain past 6.2 on the U.S. dollar in the current round of rally with the weakening dollar index and strong domestic economic recovery, the Shanghai Securities News reported citing analysts. The Chinese currency may however continue to fluctuate given the increased internationalization and China's opening up of its financial markets, the newspaper said citing Ming Ming, deputy research director at CITIC Securities. The yuan may fluctuate between 6.3 to 6.7 in 2021, the newspaper said citing Tang Jianwei, chief researcher of Bank of Communications. The onshore yuan rose by nearly 200 points against the dollar on Monday, hitting an intraday high of 6.4016, near the strongest in three years.

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