PBOC governor reaffirms yuan stability, refuting trade partners’ accusations ahead of critical US talks in Paris
2-MIN READ2-MIN1 ListenXinyi Wuin BeijingPublished: 8:00pm, 6 Mar 2026Beijing has stressed that it does not intend to rely on a weaker yuan for trade gains, amid a recent rally in the currency and mounting pressure from trade partners to allow it to strengthen.
“At present, the yuan-dollar exchange rate is around the midpoint of its range in recent years,” Pan said.
The yuan has strengthened steadily against the US dollar since late last year. The PBOC set the yuan’s fixing rate at 6.9025 to the US dollar on Friday, slightly weaker than Thursday’s 6.9007, which was the strongest level in 34 months.
The yuan’s rally coincides with a softening of the dollar, which has faced downward pressure in recent months, driven by policy uncertainty under the Trump administration.
