World Economy

Yuan’s Biggest Gain in Decade

Yuan’s Biggest Gain in DecadeYuan’s Biggest Gain in Decade

The Chinese currency has posted its biggest one-day gain against the US dollar in more than 10 years, RT reported. The yuan surged 0.6% on Friday to close at 6.32 to the dollar. This followed an announcement by the People’s Bank of China that it is considering a trial program in the Shanghai Free Trade Zone which would allow domestic investors to directly buy overseas assets. Earlier, the central bank strengthened the daily rate by 0.16% to 6.35 per dollar.