Today’s yuan midpoint sets 0.5% weaker than Reuters’ estimate, signaling potential depreciation pressure on the currency.
The People’s Bank of China set the daily USD/CNY reference rate at 6.8150, compared with a Reuters poll estimate of 6.7819. The fix allows the yuan to trade within a 2% band around the midpoint, a mechanism unchanged since 2014.
The 331-pip deviation from expectations marks the largest miss in three months, following a prior fix of 6.7944. Analysts had anticipated a modest strengthening amid recent dollar weakness and stabilizing capital flows.
No immediate market reaction was reported, though offshore yuan futures edged lower in early trade.