EL7.AI
ForexMedium•5 November 2026•
1 min read

Chinese Yuan Rises as PBOC Lifts Midpoint and US Dollar Weakens

Key Facts

1The Chinese yuan rose 0.09% to 6.6698 per dollar after the PBOC lifted its midpoint rate.
2The People's Bank of China set the midpoint rate at 6.7156 per dollar.
3The currency benefited from a weaker dollar following the Democrats' victory in the US midterm elections.

The Chinese yuan rose 0.09% to 6.6698 per dollar after the People's Bank of China (PBOC) lifted its daily midpoint rate. Business Recorder reported that the PBOC set the reference rate at 6.7156 per dollar, supporting the currency's rebound from recent pressure.

The Chinese currency benefited from a weaker US dollar following the Democratic Party's victory in the US midterm elections. This appreciation follows recent economic data from China, including the Caixin Manufacturing PMI which reached 52 on November 2, 2026, and the Services PMI which stood at 50.8 on November 4, 2026.

Market attention shifts to China's annual inflation rate data scheduled for release on November 9, 2026, followed by trade balance and export figures on November 10, 2026.

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