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Yuan Breaches 6.70 Level Against US Dollar

By Markets Desk · 2026-09-18 · Updated 2026-09-18 04:47 UTC
A stack of silver coins resting on a wooden desk next to a globe
Illustration: Tradingbird

The Chinese yuan has breached the 6.70 threshold, hitting its highest level against the dollar since 2022. This rally is underpinned by strong export performance and a consistent trend of the People's Bank of China setting daily reference rates higher than market levels.

  • Bloomberg reports that the offshore yuan reached 6.6967, marking its strongest position since July 2022, following an eighth consecutive session of strengthened fixings by the PBOC. This sustained appreciation is driven by robust export data and conversion flows, positioning the currency for a seventh straight quarterly gain despite a widening interest rate differential with the US.

    Source: Yahoo Finance

  • The Chinese currency strengthened past the 6.70 threshold in both onshore and offshore markets on September 18.

    Source: biggo.com
Based on reporting by biggo.com and Yahoo Finance, compiled by the Tradingbird desk.

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