Yuan Surges After Report on Saudis Accepting Currency for Oil
Bloomberg
Published Mar 15, 2022 10:01AM ET
Updated Mar 15, 2022 10:19AM ET
Yuan Surges After Report on Saudis Accepting Currency for Oil
(Bloomberg) -- The Chinese yuan reversed earlier declines and jumped toward its highs of the day following a report by Dow Jones that Saudi Arabia is in active talks with Beijing to price some of its oil sales to China in the currency.
The offshore dollar-yuan pair fell to be down 0.1% on the day at around 6.3871, having earlier been as high as 6.4108. The onshore yuan also climbed.
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