SHANGHAI (Reuters) - China's yuan had its best day since late 2012 on Wednesday, as the central bank appeared to reduce its intervention in the market, freeing the currency to reverse a large chunk of its losses since mid-January.
Dollar purchases by state banks -- a sign of intervention by the People's Bank of China (PBOC) designed to weaken the yuan -- appeared to subside this week, traders said.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!