Offshore Yuan Slips from 3-Year Peak

2026-05-26 05:02 By Czyrill Jean Coloma 1 min. read

The offshore yuan weakened to around 6.78 per dollar on Tuesday, retreating from a more-than three-year high reached in the previous session as renewed military strikes eroded optimism over a potential US-Iran peace deal.

The US conducted military strikes in southern Iran, targeting vessels allegedly attempting to lay naval mines, along with missile launch sites, in what Washington described as defensive operations.

Further weighing on the yuan, the People's Bank of China set the midpoint rate at 6.8288 per dollar, 466 pips weaker than the Reuters estimate, though still its strongest fixing since February 2023.

The central bank has continued to guide the midpoint softer than market expectations, a strategy widely viewed as an effort to preserve currency stability.

The yuan is expected to remain broadly range-bound, supported by the PBoC’s stability-focused stance and easing corporate dollar-selling pressures.



News Stream
Offshore Yuan Slips from 3-Year Peak
The offshore yuan weakened to around 6.78 per dollar on Tuesday, retreating from a more-than three-year high reached in the previous session as renewed military strikes eroded optimism over a potential US-Iran peace deal. The US conducted military strikes in southern Iran, targeting vessels allegedly attempting to lay naval mines, along with missile launch sites, in what Washington described as defensive operations. Further weighing on the yuan, the People's Bank of China set the midpoint rate at 6.8288 per dollar, 466 pips weaker than the Reuters estimate, though still its strongest fixing since February 2023. The central bank has continued to guide the midpoint softer than market expectations, a strategy widely viewed as an effort to preserve currency stability. The yuan is expected to remain broadly range-bound, supported by the PBoC’s stability-focused stance and easing corporate dollar-selling pressures.
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Offshore Yuan Rises to Multi-Year High
The offshore yuan strengthened to around 6.78 per dollar on Monday, reaching its strongest level since February 2023, as the greenback weakened amid signs of a diplomatic breakthrough in the Middle East. Over the weekend, a senior US official said that Washington and Tehran are edging closer to a deal that could reopen the Strait of Hormuz. However, President Donald Trump stressed that he would not “rush” into an agreement, while Iranian officials warned that the draft could still collapse. Meanwhile, Chinese President Xi Jinping is reportedly set to visit North Korea as early as this week or in early June, following his recent hosting of Presidents Donald Trump and Vladimir Putin within the span of a week. On the domestic front, investors are also turning their attention to China’s upcoming PMI data releases later this week, which are expected to offer fresh clues on the health of the economy following recent signs of slowing momentum in industrial output and retail sales.
2026-05-25