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Yuan Surges After Report on Saudis Accepting Currency for Oil By



© Bloomberg. An oil drilling rig stands on one of the Causeway islands in the Manifa offshore oilfield, operated by Saudi Aramco, in Manifa, Saudi Arabia.

(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 also climbed. 

©2022 Bloomberg L.P.

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