AIRLINK 60.22 Increased By ▲ 0.02 (0.03%)
BOP 6.33 Increased By ▲ 0.08 (1.28%)
CNERGY 4.39 Increased By ▲ 0.33 (8.13%)
DFML 16.00 Increased By ▲ 0.25 (1.59%)
DGKC 70.30 Increased By ▲ 2.05 (3%)
FCCL 18.31 Increased By ▲ 0.69 (3.92%)
FFBL 26.05 Increased By ▲ 0.55 (2.16%)
FFL 9.18 Increased By ▲ 0.09 (0.99%)
GGL 10.30 Increased By ▲ 0.45 (4.57%)
HBL 116.25 Increased By ▲ 1.25 (1.09%)
HUBC 111.89 Decreased By ▼ -0.11 (-0.1%)
HUMNL 6.70 Increased By ▲ 0.15 (2.29%)
KEL 4.73 Increased By ▲ 0.20 (4.42%)
KOSM 4.58 Increased By ▲ 0.06 (1.33%)
MLCF 38.66 Increased By ▲ 0.76 (2.01%)
OGDC 123.30 Increased By ▲ 2.75 (2.28%)
PAEL 21.90 Increased By ▲ 0.15 (0.69%)
PIAA 11.00 Increased By ▲ 0.10 (0.92%)
PIBTL 6.12 Increased By ▲ 0.10 (1.66%)
PPL 108.71 Increased By ▲ 1.91 (1.79%)
PRL 28.25 Increased By ▲ 0.90 (3.29%)
PTC 11.10 Increased By ▲ 0.55 (5.21%)
SEARL 51.90 Decreased By ▼ -0.10 (-0.19%)
SNGP 67.37 Increased By ▲ 0.47 (0.7%)
SSGC 11.65 Increased By ▲ 0.12 (1.04%)
TELE 8.07 Increased By ▲ 1.02 (14.47%)
TPLP 11.75 Increased By ▲ 0.19 (1.64%)
TRG 75.71 Decreased By ▼ -5.04 (-6.24%)
UNITY 22.75 Increased By ▲ 1.60 (7.57%)
WTL 1.28 Increased By ▲ 0.01 (0.79%)
BR100 6,552 Increased By 67.9 (1.05%)
BR30 22,334 Increased By 235.7 (1.07%)
KSE100 63,753 Increased By 534.1 (0.84%)
KSE30 21,513 Increased By 207.3 (0.97%)

SHANGHAI: Disappointing Chinese factory activity data kept a cap on the yuan on Thursday, but the currency looked set for its biggest monthly gain in a year against the weakening dollar.

Spot yuan was changing hands around 7.1250 at midday, little changed from the previous late session close.

If it ends the day at that level, it will have appreciated roughly 2.8% against the dollar in November.

The greenback was rooted near a three-month low on Thursday and was set to post its steepest monthly decline in a year as investors ramped up bets that the Federal Reserve is done with rate hikes ahead of a crucial inflation report later in the day.

Analysts pointed to near-term risks for the yuan as the dollar appears over-sold, but said the prospect of US rate cuts next year and fresh stimulus from Beijing will bolster the Chinese currency in the long term.

Comments

Comments are closed.