The yuan strengthened against the U.S dollar in the early Asian session on Thursday.
Against the greenback, the yuan rose to an 8-day high of 6.2250, up from yesterday’s closing quote of 6.2292.
The next possible upside target of the yuan is seen at 6.21.
The People Bank of China set today’s central parity rate for yuan at 6.1653. per dollar, compared to Friday’s reference rate of 6.1640. The central bank sets the reference rate every morning and allows the currency to move upto 2 percent from that level.