PBOC boosts yuan before Trump-Xi talks
The People's Bank of China has raised the yuan's exchange rate to 6.7670 yuan per dollar, the highest level since December 2025, as part of efforts to support it ahead of the Trump-Xi summit on September 24. This move comes amid attempts to curb currency volatility and steer it toward a gradual appreciation, continuing the slow stabilization policy focused on currency stability and reducing political exploitation of the currency issue amidst the bilateral tensions between China and the United States. The yuan's trading has not changed significantly, and the central bank remains committed to a gradual strengthening approach until the summit.
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