officials worries: The offshore yuan against the dollar increased 0.99 percent to around 6.8151 as of 11 pm on the same day, according to Global Times China. The US Federal Reserve Board Fed officials' worries that US President-elect Donald Trump's economic stimulus plan may impact sustainable development of the US economy weakened the dollar, relieving external depreciation pressure on the yuan, said Liu Jian, a senior research fellow at Bank of Communications. The onshore yuan finished 668 points higher at 6.8817 against the dollar on Thursday, recording the largest daily growth in nearly 11 months. Fed officials are worried that Trump's stimulus plan will bring great uncertainty to the US economy, wallstreetcn reported on Thursday, citing minutes of the Federal Open Market Committee FMOC . The members of the FOMC argued that the upcoming fiscal policy is uncertain because expansive fiscal policy may lead to a currency policy tighter than expected, the report said. The People's Bank of China PBC set the central parity rate of the onshore yuan against the dollar at 6.9307 yuan on Thursday, 219 points higher than the previous day. Chinese financial regulators acted proactively to regulate the yuan.
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Tagged under officials worries, reserve board topics.