The yuan firmed on Friday after the central bank set the official midpoint guidance at its highest rate since mid-January, leading the exchange rate to end the week up 0.13 percent. Volumes were average, closing out at more than $12 billion, but volatility was negligible, with the spot rate closing at 6.2147 per dollar, a single point firmer than its opening price.
The spot rate continues to hover near the strong side of the intra-day limit, around 0.9 percent stronger than the midpoint, as it has since November, implying that the central bank is signalling domestic traders for restraint, with an eye on other Asian currencies.
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