FINANCE

Yuan Advances to Three-and-a-Half-Year High

Published: Aug. 6, 2026 2:32 p.m. GMT+8

00:00

00:00/00:00

Listen to this article 1x

The onshore yuan strengthened past 6.75 per U.S. dollar on Thursday. Photo: VCG

The onshore yuan strengthened past 6.75 per U.S. dollar on Thursday, reaching its highest level in three and a half years, supported by shifting U.S. monetary policy expectations and robust Chinese exports.

The onshore yuan opened at around 6.748 per dollar on Thursday, its first recent opening below 6.75. A lower number indicates a stronger Chinese currency.

You've accessed an article available only to subscribers

Subscribe today for just $.99.

VIEW OPTIONS

Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.

Subscribe to both Caixin Global and Bloomberg - for the price of one.

Share this article

Open WeChat and scan the QR code

DIGEST HUB

Digest Hub

Back

Explore the story in 30 seconds

Yuan hits 3.5-year high above 6.75 per dollar on shifting US policy expectations and robust Chinese exports.
Dollar rally faltered in July as US inflation slowdown reduced Fed rate hike bets.
China exports surged 27% YoY in June, but economist cautions yuan gains may not last.

AI generated, for reference only

Who’s Who

AI generated, for reference only

What Happened When

June 2026：: The dollar index rose nearly 2.3%, but the yuan weakened by only about 0.3%, showing resilience. China's exports rose 27% from a year earlier in dollar terms.

July 2026：: The dollar's momentum reversed as investors weighed conflicting signals on inflation and interest rates. A larger-than-expected slowdown in U.S. inflation reduced expectations that the Federal Reserve would raise rates in July 2026.

Before August 6, 2026：: The yuan tested the 6.75 threshold repeatedly over the past week, approaching 6.75 for five consecutive trading sessions.

August 6, 2026：: The onshore yuan strengthened past 6.75 per U.S. dollar, reaching its highest level in three and a half years. It opened at around 6.748 per dollar, its first recent opening below 6.75.

AI generated, for reference only