The Chinese Yuan nearly two year high on Thursday with USD/CNY at 6.8690 due to sale of dollars by state owned banks in onshore market.
The Central Bank of People Republic of China set Yuan midpoint against the Dollar at 6.8695 from 6.8895 previously, after Moody's reduce the credit rating of world's second largest economy for the first time since 1989.
The people's bank of china allows the USD/CNY rate to be not more than 2% above or below the central parity rate.
The people's bank of china allows the USD/CNY rate to be not more than 2% above or below the central parity rate.
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