A year ago,economic forecasters at home and abroad bet on sharp depreciation of the renminbi,or the yuan,in 2017 due to a flagging economy and U.S.rate hikes.But the Chinese currency roaring back in the past months has proven them wrong.The yuan’s midpoint saw a substantial increase to 6.6770 against the greenback on August 11,the strongest in more than 10months,following a steady strengthening streak since the beginning of 2017.Onshore and offshore rates were also much fi rmer.
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