Global Market: China's yuan hits more than four-year high against dollar

Economic Times - Oct 22, 2026

In a remarkable turn of events, China's yuan has surged against the US dollar, hitting levels unseen in over four years. This strength is linked to a declining dollar and prevailing central bank strategies. Although the People's Bank of China set a midpoint lower than anticipated, its actions aim to moderate currency appreciation. Analysts believe the yuan's resilience may hinge on sustained export performance and domestic demand influences.

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