Reported about 16 hours ago
Chinese banks facilitated a rapid increase in dollar sales by clients last month, reflecting growing optimism for the yuan's appreciation. In September, lenders sold $51.8 billion in foreign currencies, the highest amount since December 2020, largely driven by exporters and importers. This trend, bolstered by strong export growth, is seen as a sign of renewed confidence in the yuan, especially as it approached its strongest level since November.
Source: YAHOO