ForexMediumUpdated•Originally published 14 October 2026•Updated 14 October 2026•
1 min read
PBOC Sets Yuan Reference Rate at 6.7249 Against USD
Key Facts
1The People’s Bank of China is expected to set the daily USD/CNY reference rate at approximately 6.6922 according to Reuters estimates.
2Goldman Sachs states that the yuan is undervalued by up to 25% and markets underestimate its potential rise.
The People’s Bank of China set the daily USD/CNY reference rate at 6.7249 on October 14, 2026. This actual fixing is higher than the previous estimate of 6.6922 and serves as the midpoint for the yuan's managed floating system, which allows the currency to trade within a 2% band.
Goldman Sachs states that the yuan is undervalued by up to 25% and suggests that markets are underestimating its potential for appreciation. In related financial markets, GS closed at $893.95 on October 12, 2026, while peer JPM closed at $331.43 on October 13, 2026.