Yuan Surges After Report on Saudis Accepting Currency for Oil

(Bloomberg) — The Chinese yuan reversed earlier declines and jumped toward its highs of the day following a report by Dow Jones that Saudi Arabia is in active talks with Beijing to price some of its oil sales to China in the currency.

The offshore dollar-yuan pair fell to be down 0.1% on the day at around 6.3871, having earlier been as high as 6.4108. The onshore yuan also climbed. 

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