Yuan jumps as central bank guides rate up for first time in nine days
A clerk counts Chinese 100 yuan banknotes at a branch of a foreign bank in Beijing January 4, 2016. REUTERS/Kim Kyung-Hoon
SHANGHAI (Reuters) - China's yuan firmed in early trade on Friday after the central bank strengthened its official rate for the first time in nine trading days.
China allowed the biggest fall in the yuan in five months on Thursday, pressuring regional currencies and sending global markets tumbling as investors feared it would trigger competitive devaluations.
The People's Bank of China set the midpoint rate
In spot trade, yuan
The offshore yuan was trading 1.29 percent away from the onshore spot at 6.662 per dollar.
(Reporting by Pete Sweeney; Editing by Kim Coghill)
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