A post by @FirstSquawk on X.
PBOC SETS YUAN CENTRAL PARITY RATE AT THE WEAKEST LEVEL SINCE OCTOBER 23
@FirstSquawk on X
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The People's Bank of China set the yuan's daily central parity rate at its weakest level since October 23, signaling a modest downward adjustment in the official fixing. The move extends a gradual softening of the reference rate, which anchors onshore trading and is closely watched as a policy signal from Beijing. The fixing matters because it shapes the yuan's permitted trading band and can influence capital flow expectations across Chinese assets. Traders will watch the next few fixings for signs of whether the PBOC is tolerating further depreciation or leaning against it.
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Named in this story
Chinese yuan, People's Bank of China