
The yuan strengthened to 6.977 per USD on 2026’s first trading day, its highest since May 2023, with economists expecting continued stability within a narrow range.
On the first trading day of 2026, the yuan rose to 6.977 against the U.S. dollar before closing at 6.9806, marking an 84 basis point gain and the highest level since May 2023. Economist Wen Bin forecasts the yuan will remain strong in January but fluctuate between 6.9 and 7.0. This performance extends earlier gains from late 2025, supported by favorable economic indicators and currency market dynamics.