Rising expectations of steady long-term foreign capital inflows into the world's second-largest economy pushed yuan forwards to their highest in nearly three years.
SHANGHAI: The yuan strengthened against the dollar on Friday as China's inclusion in a key global bond index bolstered expectations of a significant increase in capital inflows into the country.
Investors cheered FTSE Russell's decision on Thursday to add Chinese government bonds (CGBs) to its flagship World Government Bond Index (WGBI) in 2021.
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