China's central bank fixes yuan midpoint at 6.7795, above estimate

China's central bank set the yuan reference rate at 6.7795, stronger than the 6.7086 estimate, and drained liquidity via reverse repos.

07/09/2026 01:311 min read

China's central bank permits the yuan to trade in a band of 2% on either side of the daily fixing.

  • The PBOC conducted 500 million yuan of seven-day reverse repos, with the rate kept at 1.4%.
  • Five billion yuan in repos matured, resulting in a net withdrawal of 4.5 billion yuan.

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