Offshore Yuan Holds Firm at 2023 Peak

2026-08-05 03:15 By Czyrill Jean Coloma 1 min. read

The offshore yuan held its gain around 6.74 per dollar on Wednesday, staying at its strongest level since early February 2023 as improving prospects for a renewed Middle East agreement boosted risk sentiment.

Qatar said mediation efforts between the US and Iran had entered an advanced phase, with a draft agreement already prepared.

US officials signaled growing confidence that a deal could be reached soon, raising hopes for the reopening of the Strait of Hormuz.

On the domestic front, a private survey showed China’s Composite PMI fell to a one-year low of 50.8 in July 2026, reflecting slower momentum across the economy.

The manufacturing PMI eased to a four-month low of 50.9, while the services PMI slipped to its weakest level in nearly two years at 50.4.

Meanwhile, the People’s Bank of China announced a CNY 500 billion three-month outright reverse repo operation to maintain ample liquidity in the banking system, with bids determined through multi-tier interest-rate pricing.



News Stream
Offshore Yuan Holds Firm at 2023 Peak
The offshore yuan held its gain around 6.74 per dollar on Wednesday, staying at its strongest level since early February 2023 as improving prospects for a renewed Middle East agreement boosted risk sentiment. Qatar said mediation efforts between the US and Iran had entered an advanced phase, with a draft agreement already prepared. US officials signaled growing confidence that a deal could be reached soon, raising hopes for the reopening of the Strait of Hormuz. On the domestic front, a private survey showed China’s Composite PMI fell to a one-year low of 50.8 in July 2026, reflecting slower momentum across the economy. The manufacturing PMI eased to a four-month low of 50.9, while the services PMI slipped to its weakest level in nearly two years at 50.4. Meanwhile, the People’s Bank of China announced a CNY 500 billion three-month outright reverse repo operation to maintain ample liquidity in the banking system, with bids determined through multi-tier interest-rate pricing.
2026-08-05
Offshore Yuan Steadies Near 2023 High
The offshore yuan steadied around 6.75 per dollar on Tuesday, holding near its strongest level since February 2023, as investors assessed fresh signals from the People's Bank of China aimed at supporting the economy. The central bank reaffirmed its commitment to maintaining an appropriately accommodative monetary stance, pledging to fine-tune policy tools when necessary and keep liquidity conditions ample to support growth. The central bank also underscored efforts to strengthen Shanghai's role as a hub for cross-border finance and offshore financial services, reinforce Hong Kong's position as the world's leading offshore yuan center. This followed the Politburo meeting, where authorities vowed timely policy measures and to accelerate public spending and government bond fund usage. On the economic front, a private-sector survey showed factory activity slowed to a four-month low in July 2026, highlighting persistent weakness in the sector.
2026-07-31
Chinese Yuan Hits 3-1/2-year High
The Chinese Yuan touched 6.75 against the USD, the highest since February 2023. Over the past 4 weeks, US Dollar Chinese Yuan lost 0.59%, and in the last 12 months, it decreased 6.32%.
2026-07-30