The Chinese yuan firmed against the U.S. dollar in late Asian deals on Monday, as the People's Bank of China raised the reference rate for the yuan to a new record high for the greenback.
The yuan touched 6.1257 per dollar, its strongest since June 4. If the rally continues, the yuan may break last month's new record high of 6.1217. The pair closed Friday's deals at 6.1355.
The central bank set today's central parity rate for the yuan at 6.1598 per dollar, compared to Friday's reference rate of 6.1607. The Chinese central bank sets the central parity rate every morning and allows the currency to fluctuate up to 1% from the level.
For comments and feedback contact: editorial@rttnews.com
Forex News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.