The People’s Bank of China strengthened the yuan above 6.80 per dollar for the first time since 2023



The People’s Bank of China set a daily midpoint for the yuan stronger than the 6.80-per-dollar level—for the first time since 2023. This is a signal that the regulator is not hindering the strengthening of the national currency.

A stronger yuan lowers the cost of Chinese imports and reduces inflationary pressure within the country, but it also creates additional pressure on exporters. For global markets, this means a shift in the price competitiveness of Chinese goods and the potential reallocation of trade flows.
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