People's Bank of China

China rate markets signal cooling bets on deflation, PBOC easing

Investors and businesses use the swaps to hedge their interest rate exposure by exchanging a fixed-rate income stream for floating rates

The PBOC has set the renminbi fixing at 6.89 yuan (S$1.28) for each US dollar, its strongest level since 2023.

PBOC employs volatile renminbi fixing to manage Iran war fallout

The move signals that China is encouraging two-way fluctuations rather than backing a single direction

Despite recent declines, gold has gained over the past few weeks, clawing its way back above US$5,000 an ounce.

China’s PBOC extends gold buying as Middle East tension simmers

Some countries have also sold gold recently, but buying still outweighs sell-offs

The bank will continue to keep the yuan basically stable and strengthen guidance for foreign exchange market expectations.

PBOC vows to support yuan stability as global volatility rises

China will not seek to gain an edge in trade by depreciating the yuan

The renminbi strengthened 4.4% in 2025 in its biggest annual gain since 2020.
EXPLAINER

What can China do to slow down its rising currency?

The renminbi has firmed about 2% so far in 2026

The onshore renminbi advanced for a 10th straight session to hit 6.8310 per US dollar, its strongest level since April 2023.

Renminbi extends advance to mark longest winning streak since 2010

Exporters are seen stepping up foreign-currency settlements, helping the currency’s strength

The People’s Bank of China pledges to guide short-term money market rates to trend more closely around the policy rate in a smooth manner.

PBOC’s rising focus on overnight rate spurs talk of policy shift

This change towards meticulous liquidity management helps the central bank align more with the US Federal Reserve

For the PBOC, keeping the financial plumbing well-greased is essential to ward off a seasonal cash crunch and maintain economic momentum against mounting headwinds.

China is pumping cash to fill a US$456 billion liquidity shortfall

Some of the liquidity pressure the PBOC must offset stems from household behaviour

Bullion held by the People’s Bank of China has risen by 40,000 troy ounces last month.

China central bank keeps buying gold as bull run hits brakes

[BEIJING] China’s central bank extended its gold-buying streak to 15 months, underscoring resilient official demand as bullion’s record-breaking rally was hit by a sharp market sell-off late last mont...