The yuan on Friday in Shanghai rose by the most since 2005


Moscow. October 30. The yuan exchange rate against the US dollar on Friday demonstrated the most significant increase since July 2005.

The reason for this was the statement of the people’s Bank of China (PBOC) that it was exploring the possibility of launching pilot programs in the Shanghai free trade zone, which will allow individual Chinese investors to directly buy foreign assets, told Bloomberg.

At the auction in Shanghai, the yuan has risen in price for 0,62% – to 6,3175/$1. Meanwhile in Hong Kong cost China’s national currency increased by 0.51% to 6,3260/$1.

NSC on Friday set the official exchange rate of the yuan at the level 6,3495/$1, which is 0.16% higher than the previous day.

The Central Bank announced Chinese plan is another step in the loosening of capital controls and promoting the Renminbi as an international currency, including inclusion in the currency basket for the calculation of special drawing rights (SDR, SDR) of the International monetary Fund.