China’s central bank set the yuan’s daily reference rate stronger against the US dollar on Friday, as markets continued to assess the outlook for the Chinese currency amid shifting expectations over global interest rates and the world’s second-largest economy.
The central parity rate of the Chinese renminbi, or yuan, strengthened by 20 pips to 6.7787 against the US dollar, according to the China Foreign Exchange Trade System (CFETS).
The latest fixing compares with a central parity rate of 6.7807 per US dollar previously.
The move also extends the yuan’s strengthening from levels seen earlier in the year. The central parity rate was fixed at 6.7934 per US dollar in late June, putting Friday’s fixing around 146 pips stronger than that level.
Under China’s managed floating exchange-rate regime, the onshore yuan is permitted to trade within a 2% band on either side of the central parity rate against the US dollar during each trading session.
The daily reference rate is calculated based on a weighted average of quotations submitted by market makers before the opening of China’s interbank foreign exchange market.
The fixing remains an important signal for currency markets as Beijing manages exchange-rate stability while allowing market forces to play a role in determining the yuan’s value.
The latest yuan fixing comes as investors continue to monitor China’s economic momentum, monetary policy settings and developments in global financial markets for indications of the currency’s direction through the remainder of 2026.
