SHANGHAI :
US Election Result Shores Up Yuan
Xu Wei
DATE:  Nov 09 2020
/ SOURCE:  Yicai
US Election Result Shores Up Yuan US Election Result Shores Up Yuan

(Yicai Global) Nov. 9 -- The outcome of the US election has boosted the yuan to rise against the US dollar both offshore and onshore.

The onshore redback’s exchange rate climbed to 6.5680 against the buck, over 300 points higher than the opener, while offshore the exchange rate went up to 6.5458 against the greenback, over 350 points more than the starter.

Democratic presidential challenger Joe Biden has won 20 electoral votes more than the 270 needed to secure victory in the 2020 US presidential election, various US media have reported.

Editor: Ben Armour

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Keywords:   CNY,RMB,USD,Exchange rate