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Financials

Trading volume of China's yuan rises to highest since Aug 2015

SHANGHAI, Oct 23 (Reuters) - The trading volume of China’s onshore spot yuan rose to $50.5 billion by the domestic close on Tuesday, its highest level since August 2015.

The soaring volume was a result of jumps in intraday trades as some market participants exploited a swing in a very thin range of the onshore spot yuan rate, a trader at a Chinese bank in Shanghai said.

The onshore yuan opened at 6.9413 to the dollar and ended at 0830 GMT at 6.9374, with a daily moving range of 60 pips.

Reporting by Winni Zhou and John Ruwitch; Editing by Clarence Fernandez

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