Yuan climbs past seven per dollar as China’s central bank caves in to bullsBloombergThe yuan climbed past the psychological milestone of 7 yuan per US dollar for the first time since September last year, on bets China’s central bank would allow gradual currency appreciation to boost market confidence. The offshore yuan yesterday gained as much as 0.2 percent to 6.9964 yuan per US dollar. The central bank on Wednesday promised to ensure adequate money supply to support financing, economic growth and inflation targets. “A sustained yuan gain will be helpful in increasing the appeal of China’s capital markets to foreign investors.”In onshore trading, the Chinese currency yesterday gained 0.1 percent to 7.0067 yuan per US dollar. Despite its rally versus the US dollar, many analysts say the yuan is still too cheap on a trade-weighted basis and considering China’s entrenched deflation.

Source: Taipei Times December 25, 2025 17:23 UTC