Yuan set to achieve its longest weekly rally against the US dollar in 13 years

Yuan Approaches Record Winning Streak Against the Dollar

On Friday, the Chinese yuan maintained a slightly weaker position, yet continued its upward momentum, heading for its longest run of weekly gains against the US dollar in almost 13 years, supported by strong export performance.

As of 03:55 GMT, the yuan had slipped by 0.05% to 6.9396 per dollar, fluctuating between 6.9390 and 6.9418 during the session. Meanwhile, the offshore yuan strengthened by approximately 0.05% in Asian trading, reaching 6.9388 per dollar.

This week, the yuan has appreciated by 0.2% against the dollar, marking its eleventh consecutive week of gains—a streak not seen since early 2013. Experts point to several contributing factors behind the yuan’s strength, such as a softer US dollar and solid export data.