(Yicai Global) Oct. 21 -- The Chinese yuan's relentless rise against the US dollar continued today, reaching its strongest exchange rate since July 2018 at 6.6442 in onshore trading.

The onshore yuan had strengthened 0.43 percent to 6.6464 against the US dollar as of 1 p.m. China time, and had earlier in the day hit 6.6442.

On the international markets, the offshore yuan was trading at 6.6309, an appreciation of 0.47 percent from the close of markets in New York yesterday.

The People's Bank of China fixed the yuan's central parity rate at 6.6781 this morning, also the firmest point in 27 months. Daily spot rates may swing 2 percent above or below this figure.

The US dollar index, which measures the value of the greenback against a basket of foreign currencies, has continued to depreciate as the outcome of fiscal stimulus talks remains uncertain in the build up to the US presidential election next month.

Editor: Kim Taylor