News · Yahoo Finance

Asian currencies firm as dollar retreats; yuan hits four-year high

Most Asian currencies firmed on Tuesday as the US dollar weakened, with China's yuan reaching 6.6775 per dollar, its strongest level since July 2022, after a firm daily fixing by the People's Bank of China and third-quarter growth of 4.5%. The PBOC kept its one-year loan prime rate at 3.00% and five-year rate at 3.50%, while the dollar index fell 0.2% to 101.78. The Indonesian rupiah stayed near 18,000 per dollar after MSCI proposed consulting on reclassifying Indonesia from emerging to standalone market status, triggering a selloff that saw the Jakarta Composite Index plunge nearly 12% on Friday and roughly 15% over two sessions. The index rebounded about 3% on Tuesday after authorities introduced measures to contain volatility, but the two-day rout erased about $82 billion in market value and the rupiah has lost around 8% against the dollar this year.

Summary written by Upside AI from the original article. Read the source for full details.

Read the original on Yahoo Finance ↗

Keywords

exchange ratesyuanUS dollarAsia

Open a keyword to see other news on the same topic.

Related tickers and likely impact

DXY

▼ Likely negative

Relevance: medium

MarketCurrencies
Close on 10/19/2026101.98
Change that session+0.20%
DXY price, forecasts and signals →

USD/JPY

▼ Likely negative

Relevance: low

MarketCurrencies
Close on 10/19/2026158.532
Change that session+0.34%
USD/JPY price, forecasts and signals →

XAU/USD

▲ Likely positive

Relevance: low

MarketGold
Close on 10/19/20264,140.75
Change that session-0.60%
XAU/USD price, forecasts and signals →

Impact is scored by AI from the headline and may be wrong. It is not investment advice.

Related news

  • MUFG says firmer China growth offers yuan support , but uneven demand limits the upsideinvestinglive.com·yuanChinaGDP growth
  • China has no need or intent to gain competitive advantages through currency devaluation : central bank governor

    People's Bank of China Governor Pan Gongsheng said China has no need or intent to gain trade advantages through currency devaluation, rejecting foreign media reports that Beijing deliberately keeps the yuan weak. He said the yuan's sensitivity to exchange rate movements in trade has dropped significantly, and China has never engaged in competitive devaluation during the Asian financial crisis, the global financial crisis or recent trade wars. The PBC runs a managed floating system that references a basket of currencies, and in extreme circumstances may intervene directly in the FX market, in line with international rules. Pan also said yuan settlements accounted for 29.1% of China's cross-border goods trade receipts and payments in the first half of 2026, up 1 percentage point from a year earlier.

    globaltimes.cn·• DXYyuanChinaexchange rates
  • Global Market : China yuan hits four - year high as strong GDP data ease stimulus concernseconomictimes.indiatimes.com·• DXYyuanexchange ratesChina
  • Asia FX ticks higher; yuan hits 4-yr high after China Q3 GDP beat

    Asian currencies traded flat to slightly higher on Monday while the dollar held steady after a 0.4% weekly fall that ended a four-week winning streak. The yuan reached its strongest level since July 2022, with onshore USD/CNY down 0.1% to 6.6816, after China's third-quarter GDP grew 4.5% year on year, beating the 4.4% forecast. September industrial output rose 5.5% and retail sales 1.1%, but property investment fell 20.6% in the first nine months and fixed-asset investment dropped 7.2%, which could limit the yuan's gains. The yen was near 158 per dollar amid intervention fears, while the rupee posted its strongest weekly performance in nearly four years after Reserve Bank of India measures to curb dollar demand. The Australian dollar gained 0.4% and the won strengthened 0.2% against the dollar.

    Yahoo Finance·▼ DXY▲ XAU/USDexchange ratesyuanChina
  • Is the RMB undervalued ?-- Beijing Review

    In an interview with Beijing Review, Zong Liang, a senior researcher at the World Finance Forum, argues that the renminbi is not deliberately undervalued. He notes that the currency weakened until early April 2025 before recovering, and broke through 6.9 per dollar in February 2026, its highest level since April 2023. The PBOC says the RMB appreciated about 9% against the U.S. dollar since the start of 2025, yet three effective exchange rate indices edged lower because the dollar index fell 9.4%. Forex reserves reached $3.3579 trillion by late 2025, up 5%, mainly due to valuation effects rather than large-scale purchases. He adds that the record current account surplus reflects the gap between domestic saving and investment, not the exchange rate alone.

    bjreview.com·exchange ratesyuanChina
  • A closer look at China currency and what really drives the country export strength -- Beijing Review

    On October 8, the People's Bank of China (PBOC) issued a document on the renminbi exchange rate, rejecting claims that the currency is deliberately undervalued to gain an export advantage. China's trade growth accelerated to 15.3% in the first quarter, 18.3% in the second and 22.3% in the third, the fastest for the same period in five years, with equipment manufacturing driving nearly 90% of export growth. Exports of integrated circuits rose 99.1%, electric vehicles 72.3%, lithium-ion batteries 36.4% and wind turbine parts 22.4%. Experts attribute China's competitiveness to technology, quality and logistics rather than price, and the article cites PBOC data showing China's export share rising in periods when the RMB appreciated, suggesting the exchange rate alone cannot explain export performance.

    bjreview.com·exchange ratesChinaexports

Related markets

Currencies →Gold →

Latest news

  • Frank Elderson: Interview with Die Presse

    In an interview with Die Presse, ECB Executive Board member and Supervisory Board Vice-Chair Frank Elderson argues that the 2008 financial crisis cost far more than bank regulation, and that post-crisis reforms made European banks better capitalised, more liquid and more profitable on average. He says simplification is not deregulation and notes the ECB has already cut reporting obligations and sped up processes. He identifies fragmentation as Europe's biggest competitiveness obstacle, since cross-border banking remains limited, and calls for completing the Single Market, the savings and investments union and the banking union, including a European deposit insurance scheme. He argues simplification and integration must advance together in the European Commission's banking reform package, and that Basel standards keep competition based on efficiency rather than the weakest rules.

    ECB·• EUR/USDECBbanksregulation
  • Prediction: These 3 Stocks Will 10X in the Next 20 Years

    The article argues that Life Time Group (LTH), First Watch Restaurant Group (FWRG) and Freshpet (FRPT) could each rise tenfold over the next 20 years, roughly 12% a year. Life Time, which runs 195 clubs, is building bigger facilities and raised revenue per membership 11.8% in the second quarter while members grew just 1.2%, though its roughly $1.5 billion in debt and sale-leaseback deals could strain it in a recession. First Watch, with 665 restaurants in 33 states, serves breakfast, brunch and lunch and has bought back 64 restaurants from franchisees in eight deals since May 2023. Freshpet places branded fridges in stores, now nearly 40,000 of them, and according to its investor presentation, its production lines could grow from 16 to at least 24.

    Yahoo Finance·LTHFWRGFRPT
  • Social unrest sets Europe streets ablaze | World News

    Rising fuel costs, anger over schools, declining public services and a housing crisis have fuelled protests across Europe. In France, students protested for over three weeks before the CGT union joined; weekend unrest led to 2,400 arrests, looting in Paris, Marseille, Lyon and Bordeaux, and a fire that nearly destroyed Limoges City Hall. In Spain, teachers began an indefinite strike in Madrid, and tent camps protesting housing costs filled the Puerta del Sol square, where the minimum wage is 1,221 euros against about 1,130 euros in monthly rent for an 80-square-metre flat. Inflation in Italy rose to 4.2% in September, above the eurozone's 3.8%, and peaceful marches there were followed by violent riots in Turin and Bologna. Trump blamed immigrants for the unrest in France.

    jamaica-gleaner.com·protestsinflationEurope
  • From France to Albania , social unrest is setting Europe streets ablaze | News , Sports , Jobs

    Rising fuel costs, anger over schools, declining public services and a housing crisis have fuelled protests across Europe. In France, high-school students protested for more than three weeks before the CGT union joined; weekend unrest led to 2,400 arrests, looting in Paris, Marseille, Lyon and Bordeaux, and a fire that nearly destroyed Limoges City Hall. In Spain, teachers began an indefinite strike in Madrid, and tent camps protesting housing costs filled the Puerta del Sol square, where the minimum wage is 1,221 euros against about 1,130 euros in monthly rent for an 80-square-metre flat. Inflation in Italy rose to 4.2% in September, above the eurozone's 3.8%. Trump blamed immigrants for the unrest in France.

    lahainanews.com·protestsinflationEurope
  • Winning over Vingroup and Sun Group with concrete and special materials: Vietnamese company's profit up 136%, chairman speaks out

    Song Da Cao Cuong (SCL) reported Q3/2026 profit of VND 38 billion, up 136%, on net revenue of over VND 263 billion (up nearly 98%), while gross profit margin rose from about 36% to 41%. For the first nine months, revenue reached nearly VND 666 billion (up 81%) and after-tax profit nearly VND 94 billion, already exceeding more than 110% of its full-year profit target. Chairman Kieu Van Mat attributed the results to technology upgrades, production line optimization and capacity expansion, with several new plants expected to start operations by November 2026. The company said it spent more than two years testing its products before Vingroup accepted them; Vingroup's share of its business has fallen to about 25% as customers expanded to around 10 major groups and exports began to Laos, Cambodia and the Philippines. Over the past two years, the company has invested about VND 1,000 billion in factories and technology.

    CafeF·SCLearningsVingroup
  • Stock Market: Will S&P 500 Open Up or Down Today?

    Early Tuesday, U.S. tech-focused stock futures are edging slightly lower as investors brace for a busy stretch of corporate earnings reports, important housing data, and continuing geopolitical friction between Iran and Western countries.

    Yahoo Finance·S&P 500earningsIran

All news →

Get the briefing on Telegram or Zalo

Join the Upside Telegram channel or Zalo group for the Vietnam stocks and gold briefing at 8:00 and 19:00 (Vietnam time) on trading days, plus a weekly wrap on Saturday morning.