The offshore yuan strengthened past 6.89 per dollar on Thursday, extending its rally to a sixth straight session and reaching its strongest level since May 2023, as China aimed to elevate the currency’s global standing. President Xi Jinping has reiterated his ambition for the yuan to become a global reserve currency, one widely used in international trade, investment and foreign exchange markets and held by central banks in sizeable amounts. The offshore yuan has climbed to a near three-year high against the dollar, with the dollar sliding 6% against the renminbi since the start of last year. Still, gains were tempered after China’s central bank reaffirmed its “moderately loose” monetary policy stance, prioritizing stable growth and a gradual recovery in prices. The policy stance came before the data showing that annual consumer inflation slowed to a three-month low of 0.2% in January 2026, while producer price deflation eased to 1.4%, the least in one and a half years.
Related Articles
Check Also
Close
-
EUR/USD softens below 1.1650 ahead of Fed rate decisionOctober 29, 2025
S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market





