Business · Markets · 2 days ago
Yuan reaches four-year high against trading partners’ currencies
The yuan has risen against the currencies of China’s trading partners.
Its index reached its highest level in four years, and it has gained more than 5% this year.
China’s central bank defended its exchange-rate policy and rejected accusations that it deliberately weakens the currency.
The stronger yuan could affect trade, but the bank said it should not be used to fix global trade imbalances.
The yuan reached its highest level in four years against a basket of its trading partners’ currencies.
The CFETS yuan exchange-rate index rose to 103.9 points on Friday, its highest level since April 2022.
The index’s gains since the start of the year exceeded 5%.
The rise came as China’s central bank defended its exchange-rate policy and rejected accusations of deliberately weakening the currency.
The bank also rejected using yuan appreciation to address global trade imbalances.
- Who
- The Chinese yuan and the People’s Bank of China.
- What
- The yuan reached a four-year high against a basket of trading partners’ currencies.
- When
- Friday; the article was published on October 9, 2026.
- Where
- Against a basket of the currencies of China’s trading partners.
- Why
- The rise was supported by the central bank’s defense of its exchange-rate policy and rejection of accusations that it deliberately weakens the yuan.
This story does not have two clearly opposing sides.
No direct quotes in the coverage so far.
The People’s Bank of China issued a detailed document rejecting the use of yuan appreciation to address global trade imbalances.
The CFETS index rose to 103.9 points, its highest level since April 2022.
- CFETS index
- 103.9 points
- Previous index high
- Highest since April 2022
- Year-to-date gains
- More than 5%
- Central bank reference rate
- Strongest level since 2023
- Against the euro
- Highest level in more than a year
Sources
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