# Yuan nears three-and-a-half-year high as Fed hike bets fade 2026-08-15T12:38:13+00:00 | Business & Economy | Indian Opinion Desk Corroboration: 1 independent outlet China’s yuan traded near a three-and-a-half-year high against the US dollar on Friday and headed for a seventh straight weekly gain. The spot yuan rose 0.01% to 6.7443 per dollar by 0258 GMT, after reaching 6.74 in the previous session, its strongest level since February 2023. The People’s Bank of China set its daily midpoint at 6.7878, the strongest since February 2023. Softer US producer prices in July reduced expectations of a September Federal Reserve rate hike, weighing on the dollar. The yuan has gained 3.7% against the dollar this year. The PBOC also injected 349 billion yuan into the banking system through overnight reverse repos. ## Coverage - thehindubusinessline.com Tags: China, PBOC, US Federal Reserve Canonical: https://indianopinion.org/yuan-nears-three-and-a-half-year-high-as-fed-hike-bets-fade/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/yuan-nears-three-and-a-half-year-high-as-fed-hike-bets-fade/#story-in-brief Review state: restored archive article, accurate at time of publication, not offered to search indexes.