CNH

The offshore yuan strengthened to around 6.95 per dollar on Monday, reversing the previous week’s losses and approaching a thirty-three-month high, after a strong manufacturing PMI data boosted sentiment. A private survey showed China’s factory activity expanding at its fastest pace since October, driven by faster production and front-loading of shipments ahead of the extended […]

The offshore yuan strengthened to around 6.94 per dollar in January, extending gains for a fourth consecutive month, as exporters ramped up currency demand ahead of the awaited holiday. Chinese firms typically accelerate the conversion of foreign earnings into yuan in the weeks before the Lunar New Year to fund employee bonuses and seasonal expenses. […]

The offshore yuan traded around 6.93 per dollar on Wednesday, hovering near its highest level since May 2023, mainly buoyed by a strong daily fixing and a weakening greenback. The central bank set the midpoint rate at 6.9755 per dollar, its firmest level since May 2023 and more than 100 pips stronger than the previous […]

The offshore yuan edged down below 6.96 per dollar on Tuesday, easing from a thirty-two-month-high after the People’s Bank of China continued to set a weaker daily midpoint. The central bank fixed the yuan at 6.9858 before the market opened, slightly above the prior session and below market expectations. This continued trend of weaker fixings […]

The offshore yuan held steady around 6.95 per dollar on Thursday, after sliding in the previous session, as markets saw the weaker-than-expected daily fixing as a deliberate effort to maintain a “measured and orderly” pace of currency appreciation. The People’s Bank of China set the midpoint rate at 7.0019 per dollar, 322 pips weaker than […]

The offshore yuan weakened to around 6.96 per dollar on Wednesday, snapping a two-session gain as the People’s Bank of China kept the daily fixing weak. The central bank fixed the reference rate at 7.0014 per dollar, softer than estimates from both Reuters and Bloomberg. Policymakers remain wary that excessive currency strength could squeeze exporters, […]

The offshore yuan strengthened to around 6.96 per dollar on Monday, hitting a fresh thirty-two-month high, as investors weighed China’s latest key economic figures. Economic growth slowed to its weakest pace in nearly three years in the fourth quarter, expanding 4.5% from 4.8% in Q3, but still came in slightly above market expectations of 4.4%. […]