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China's yuan strengthened against the dollar on Friday despite a weaker mid-point set by the central bank, as some analysts expected the Chinese economy to withstand the fallout from the Omicron variant better than its peers.
China's yuan closed the domestic trading session at a six-month high on Tuesday and were set to notch a fourth straight monthly gain, underpinned by persistent corporate demand and signs of liquidity tightness in the money markets.
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President Xi Jinping on Monday said China would offer another 1 billion doses of COVID-19 vaccines to African countries and would encourage Chinese companies to invest no less than $10 billion in Africa over the next three years.
China's yuan touched a one-week high against the dollar on Monday, on corporate demand for the local currency and easing worries over the spread of the Omicron coronavirus variant.
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