The Chinese yuan's onshore and offshore exchange rates jumped rapidly in the afternoon trading Monday after 2:30 p.m.
The onshore yuan rose 0.03 percent to close at 6.3724 a dollar. That's a difference of 256 pips with the offshore currency.
The People's Bank of China set the midpoint rate at 6.375 per dollar prior to market open, 95 basis points lower than the previous session.
Analysts say last Friday's news that IMF president recommended the yuan to be included in the SDR has made the approval by the fund's executive board this month increases the possibility.
