{
  "id": 15858128,
  "title": "China's yuan touches new high since 2022 on weaker dollar, export resilience",
  "url": "https://urgent.news/2026/10/21/chinas-yuan-touches-new-high-since-2022-on-weaker-dollar-export",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-21T06:27:52.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40445259/chinas-yuan-touches-new-high-since-2022-on-weaker-dollar-export-resilience"
  },
  "original_language": "en",
  "account": "China's yuan reached a new high since June 2022, trading at 6.6765 per dollar in early trade, marking its strongest level in over four years. This surge was driven by resilient export growth and a weaker U.S. dollar, which remained under pressure after falling to a three-week low the previous day. The weaker dollar, coupled with lower Treasury yields and reduced oil prices, diminished the appeal of the greenback, allowing the yuan to climb. China's third-quarter economic growth exceeded forecasts, with strong exports compensating for consumer caution. Analysts from Caitong Securities attributed the yuan's upward momentum to domestic economic resilience, capital inflows, and rising corporate demand for yuan. However, the pace of appreciation might decelerate as geopolitical uncertainties bolster the dollar and slightly curb capital inflows, they cautioned. Goldman Sachs reported that China attracted a net $50 billion in foreign exchange inflows in September, with the foreign exchange conversion ratio rising to 66% from 63% the prior month. The yuan increased by 0.4% against the dollar this month and 4.7% so far in 2023. The central bank has been permitting the daily midpoint of the yuan to strengthen gradually, aligning with the overall rise in the currency. Before the market opened, the People's Bank of China set the midpoint rate at 6.7192 per dollar, marking its strongest level since February 2, 2023, and 413 pips lower than a Reuters estimate. The spot yuan was permitted to trade within a 2% band of the fixed midpoint daily. The offshore yuan traded at 6.6786 per dollar, down about 0.05%.",
  "summary": "HONG KONG: China’s yuan traded in a narrow range on Wednesday after briefly hitting its highest in more than four years, supported by robust export growth and a broadly weaker dollar. The greenback remained subdued after falling to a three-week low in the previous session, with lower Treasury yields and weaker oil prices reducing the currency’s appeal. The yuan touched 6.6765 per dollar in…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}