(Yicai Global) Dec. 3 -- The Chinese yuan reached the strongest level against the US dollar since November 2 as traders reacted to a 90-day halt to any additional import tariffs between China and the US. 

The onshore spot rate breached the level of 6.90, and was close at 6.8885, down 551 basis point compared with its last closing price, it is also the lowest closing point since September 28. It touched 6.8819 intraday, which was the highest peak for the redback since November 2.

The offshore spot exchange rate was 6.8821 at 4.50 p.m. It touched 6.8756 during the day, which was the strongest point for the Chinese currency for many weeks. On Nov. 30, it closed at 6.9590.

China's President Xi Jinping and US leader Donald Trump announced a ceasefire to their countries' trade dispute at the Group of 20 summit that was held in Buenos Aires, Argentina, from Nov. 30 to Dec. 1. 

Editor: Emmi Laine