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05
Jan

Yuan Holds Near 31-Month Peak

The offshore yuan edged lower below 6.98 per dollar, but remained near its highest level since May 2023, as investors assessed the latest PMI figures for signs on the country’s economic outlook. A private survey showed China’s composite PMI remained expansionary for the seventh straight month, though services activity recorded its softest growth in six […]

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02
Jan

Yuan Remains Strong to Start the Year

The offshore yuan steadied around 6.97 per dollar on Friday, but traded at its strongest since May 2023, defying weaker central bank guidance as exporters continued selling dollars. The currency also recorded its largest annual gain since 2020, rising roughly 5% for 2025 to snap its three-year losing streak. The yuan’s rapid advance has prompted […]

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31
Dec

Offshore Yuan Poised for Biggest Annual Gain Since 2020

The offshore yuan appreciated past 6.98 per dollar on Wednesday, remaining near the fifteen-month high reached in the previous session and on track for its biggest annual gain since 2020, as better-than-expected PMI data bolstered market sentiment. Official data showed China’s composite PMI rose to a six-month high of 50.7 in December 2025, with the […]

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29
Dec

Yuan Holds as PBOC Signals Stability

The offshore yuan steadied around the 7 per dollar mark on Monday, after reaching a fifteen-month high in the previous session, as investors weighed the central bank’s efforts to temper rapid one-way moves. The People’s Bank of China set a slightly softer-than-expected midpoint, signaling its intent to rein in excess yuan strength, while state-run media […]

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26
Dec

Yuan Strengthens to Multi-Year High

The offshore yuan appreciated to around 7 per dollar on Friday, extending gains for the third consecutive session and marking its strongest level in over fifteen months, as investors responded to signs of measured policy guidance from authorities. In its latest action, China established the yuan’s daily reference rate below market expectations by a record […]

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24
Dec

Offshore Yuan Hits Fresh 15-Month Peak

The offshore yuan strengthened to around 7.01 per dollar on Wednesday, hitting a fresh fifteen-month high, driven by the strong official midpoint fixing and seasonal year-end demand. Exporters typically convert more foreign currency into yuan at year-end to meet payments and administrative requirements, a trend that could extend into January ahead of the Lunar New […]

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22
Dec

Offshore Yuan Steady After PBoC Decision

The offshore yuan held steady to around 7.04 per dollar, hovering near a three-month high, as investors assessed the People’s Bank of China’s decision to keep loan prime rates unchanged. The central bank kept its one-year LPR at 3.0% and the five-year LPR at 3.5%, holding both at record lows for the seventh consecutive month […]

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19
Dec

Offshore Yuan Weakens, Still Set for 4th Weekly Gain

The offshore yuan weakened to around 7.03 per dollar, retreating from an over one-year high hit in the previous session, dragged down by a weaker-than-expected daily fixing. The People’s Bank of China set the midpoint rate at 7.0550 per dollar, 172 pips weaker than Reuters’ estimate. These soft fixings have persisted since late November, highlighting […]

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17
Dec

Offshore Yuan Retreats on Weak Fixing

The offshore yuan slipped to around 7.04 per dollar on Wednesday, retreating from a fourteen-month high reached in the previous session, dragged down by a weaker-than-expected official fixing. The People’s Bank of China set the yuan’s midpoint rate at 7.0573 per dollar, its firmest level since October 2024 but 187 pips weaker than Reuters’ estimate. […]

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15
Dec

Yuan Hits 15-Month High Despite Weak Data

The offshore yuan appreciated to around 7.05 per dollar, hitting its highest level since late September last year despite a raft of disappointing economic data. November figures showed momentum cooling, with retail sales growth slowing sharply and falling well short of forecasts, underscoring persistent weakness in consumption. Industrial output also eased slightly from the previous […]

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