South China Morning Post

Beijing trims yuan fixing, managing appreciation amid 4-year high for offshore currency

China’s central bank has set a weaker daily fixing for the yuan despite the offshore currency’s rise to a more than four-year high, signalling Beijing’s caution over the pace of appreciation amid external calls for a stronger yuan. On Monday, the People’s Bank of China (PBOC) set the yuan’s midpoint rate, also known as the daily fixing rate, at 6.7146 to the US dollar, slightly weaker than Friday’s 6.7138. The move came after the offshore yuan broke through the psychologically important 6.65...

By South China Morning Post

1 min read
Beijing trims yuan fixing, managing appreciation amid 4-year high for offshore currency
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