Yuan Rebounds After Strongest Fix in Six Months

2026-03-03 02:55 By Joshua Ferrer 1 min. read

The offshore yuan strengthened to around 6.89 per USD on Tuesday, snapping two sessions of losses after the central bank delivered its largest midpoint adjustment in over six months.

The People’s Bank of China set the daily fixing at 6.9088 per dollar, 148 pips firmer than the previous level, signaling efforts to steady the currency amid heightened geopolitical tensions in the Middle East.

Still, the midpoint came in weaker than market estimates, suggesting authorities are balancing support for the currency with flexibility.

The move also follows recent steps by the central bank to adjust FX forward reserve requirements, highlighting its calibrated approach to rein in the fast-rising yuan while cushioning exporters from sharp swings.

Attention now turns to China’s annual “Two Sessions”, scheduled from March 4 to around March 11, where authorities are expected to set economic targets, outline policy priorities, and release the 15th Five-Year Plan detailing objectives for 2026–2030.



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