The central parity rate of the Chinese currency RMB, or the yuan, strengthened to a 20-month high against the U.S. dollar on the third trading day of 2018.
The rate strengthened 163 basis points to 6.4795 against the dollar, according to the China Foreign Exchange Trade System.
As estimated, The RMB will hold steady against a basket of currencies in 2018, with two-way movements becoming a norm.