Chinese Yuan Rises After PBOC Fixing -- Market Talk

Dow Jones2025-08-28

1301 GMT - The Chinese yuan rises to its highest level against the dollar since November 2024 after the People's Bank of China's daily fixing allowed for more strength and as the U.S. currency falls. The PBOC set its reference rate for the dollar-yuan exchange rate at 7.1063 yuan Thursday, down from the previous day's fix of 7.1108. "It seems increasingly clear that Chinese authorities want a stronger renminbi," ING's Chris Turner says in a note. This could mark a move to improve the yuan's status in international trade, he says. It provides a welcoming environment for international capital, while a stronger yuan could boost consumption by preserving the purchasing power of households, he says. The dollar falls to a low of 7.1303 yuan, LSEG data show. (renae.dyer@wsj.com)

(END) Dow Jones Newswires

August 28, 2025 09:01 ET (13:01 GMT)

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