(Yicai Global) July 9 -- A steadily rising Chinese stock market has kept the yuan exchange rate strong against the dollar. Both the onshore and offshore rates opened and stayed below the 7/1 threshold in the morning session.

The onshore redback hit a 6.9889 low to appreciate 156 basis points over yesterday’s close.

The offshore yuan reached a nadir of 6.9830 to gain 132 basis points from closing yesterday.

Editor: Ben Armour