PBOC Sets Yuan Reference Rate at 6.7367 Against US Dollar
Key Facts
The People's Bank of China set the USD/CNY reference rate at 6.7367 on October 8, 2026. According to investinglive.com, this fixing was higher than market estimates of 6.7254, representing a weaker midpoint for the Yuan as Chinese markets resumed operations.
The fixing follows the conclusion of the Golden Week holiday and reflects the central bank's strategy regarding currency stability. By setting the rate above expectations, the PBOC indicates a tolerance for Yuan depreciation amid broader macroeconomic shifts, including recent US trade data impacting regional forex volatility.
Latest Updates · 1
- Notable·
Update: The PBOC stated on October 8, 2026, that it has no intention to deliberately weaken the yuan for competitive trade advantages. This response followed US Treasury monitoring of Beijing's exchange rate practices, with the central bank reiterating its stance on maintaining currency stability.