{
  "id": 18080090,
  "title": "China's yuan hits 2-week low as investors weigh PBOC foreign exchange reserve hike",
  "url": "https://urgent.news/2026/11/04/chinas-yuan-hits-2-week-low-as-investors-weigh-pboc-foreign-exchange",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-04T06:20:45.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40447362/chinas-yuan-hits-2-week-low-as-investors-weigh-pboc-foreign-exchange-reserve-hike"
  },
  "original_language": "en",
  "account": "China's yuan experienced a decline to its lowest level in two weeks against the US dollar on Wednesday, as investors reacted to expectations of a foreign exchange reserve hike by the People's Bank of China (PBOC). The onshore yuan dropped to a low of 6.6832 per dollar in early trade, the weakest level since October 19, before settling at 6.6794 as of 0303 GMT. The offshore yuan also weakened, reaching 6.6782 per dollar, a drop of approximately 0.13% from Asian trade.\n\nThe decision to raise the foreign exchange reserve requirement ratio (RRR) by 2 percentage points, from 4% to 6%, was announced by the PBOC on Tuesday. Currency traders and analysts viewed this move as a significant attempt to curb the yuan's rapid appreciation, which has gained about 5% so far this year. Eugenia Victorino, head of Asia strategy at SEB, remarked that the central bank was \"pulling the handbrake on a surging currency.\" The PBOC had set the midpoint rate at 6.7180 per dollar prior to market opening, the weakest level since October 23 and 369 pips lower than a Reuters estimate of 6.6811.\n\nDespite the PBOC's gradual strengthening of its daily yuan guidance throughout the year, the guidance levels were weaker than market expectations, indicating a strategy to control the pace of the currency's rise. The CFETS yuan basket index, which tracks the yuan's trade-weighted value, fell to 103.75 on Wednesday, down from a 52-week high of 52.9 but still up about 5.9% year-to-date. Market attention was also focused on the US midterm elections and their potential impact on global currency markets, with investors positioning for a strong showing by the Democratic party.",
  "summary": "SHANGHAI: China’s yuan slid to a more than two-week low against the dollar on Wednesday , pressured by weaker official guidance, while investors continued digesting the central bank’s decision a day earlier to raise foreign currency reserve requirements. The onshore yuan eased to a low of 6.6832 per dollar in morning deals, the weakest level since October 19, before changing hands at 6.6794 as of…",
  "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."
}