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China’s yuan reaches its strongest level against the dollar since January 2023
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Onshore yuan strengthens to 6.6957 per dollar
China’s onshore yuan strengthened to 6.6957 per dollar in early September 21 trading, its strongest level since January 16, 2023. Before trading, the People’s Bank of China set the daily midpoint at 6.7487, its strongest fixing since February 3, 2023; the currency may trade within 2% of that reference rate. Reuters reported that the gap between the fixing and market expectations has recently narrowed, but that interpretation does not establish a formal change in central-bank policy.
PBOC September 21 USD/CNY reference rate report · Reuters: yuan reaches multi-year high