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Yuan Rallies Most in 10 Months as PBOC Strengthens Currency Fix

Iris Ouyang
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⚡ Quantum Brief
China’s yuan posted its largest single-day gain in 10 months, rising 0.5% to 6.8750 per dollar, after the central bank adjusted its daily reference rate. The People’s Bank of China strengthened the yuan’s fixing by the most since August, signaling policy support for currency appreciation ahead of a key political event. The rally comes before the National People’s Congress, suggesting authorities aim to stabilize financial markets during the high-profile legislative session. Onshore yuan trading saw heightened activity, with the currency hitting its strongest level since May 2025 amid the central bank’s intervention. The move reflects Beijing’s effort to counter depreciation pressures while managing capital flows and economic sentiment during a critical policy period.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000The yuan rallied after the People’s Bank of China signaled its comfort with the currency’s appreciation via its daily reference rate, ahead of the National People’s Congress.The onshore unit advanced as much as 0.5% to 6.8750 per dollar, to post its biggest jump since May 12. That’s after the central bank strengthenedBloomberg Terminal the daily reference rate for the currency by the most since August.

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Source: Bloomberg Markets

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