×

China sets yuan midpoint at 3-1/2-mth high, 2017 shows biggest annual rise in 9 yrs

9 yrs@

SHANGHAI, Dec 29 (Reuters) - China's central bank lifted its official yuan midpoint to a fresh 3-1/2-month high at 6.5342 per dollar, reflecting broad dollar weakness overnight in global markets and solid spot yuan performance a day earlier.

Friday's official midpoint, 70 pips or 0.11 percent firmer than the previous fix of 6.5412 on Thursday, was the strongest since Sept. 12.

The official fixing has registered an annual rise of around 6.2 percent in 2017, the steepest gain in percentage terms since 2008.

The dollar fell to a one-month low versus a basket of currencies on Thursday on a less upbeat U.S. growth outlook after the passage of major tax cuts. (Reporting by Winni Zhou and Brenda Goh; Editing by Eric Meijer)