Back to today’s briefing

Story perspectives

PBOC Sets Yuan Fixing at 6.7840 per Dollar

8/28/2026

34 5 Full Breakdown

Summary

Story summary

China’s central bank set the yuan’s daily fixing at 6.7840 per U.S. dollar on Thursday.
The central parity rate strengthened 29 pips to 6.7811 per dollar on Friday.
Analysts said the yuan gained less than 1% versus the dollar since late July.
He Wei of Gavekal Dragonomics said the People’s Bank of China resisted market pressure for appreciation.

History

Historical Context

After Mexico’s 1982 debt collapse, IMF-backed reforms and a dollar peg sustained growth until political turmoil and a surge in U.S. rates in early 1994 triggered capital flight, forcing a 35 % peso devaluation to 7.20 per dollar and a $7.8 billion IMF package. He Wei notes China’s 2024 yuan fixing at 6.7840 echoes similar managed-exchange pressures.

1 of 2

Story summary

China’s central bank set the yuan’s daily fixing at 6.7840 per U.S. dollar on Thursday.
The central parity rate strengthened 29 pips to 6.7811 per dollar on Friday.
Analysts said the yuan gained less than 1% versus the dollar since late July.
He Wei of Gavekal Dragonomics said the People’s Bank of China resisted market pressure for appreciation.

1 / 2