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fxOct 9, 2026, 9:21 PM

PBoC Rejects Yuan Undervaluation Claims, Cites Industrial Competitiveness

The People’s Bank of China pushed back against claims the yuan is undervalued, saying export strength reflects industrial competitiveness rather than currency valuation, according to Commerzbank FX analysts.

USDCNY

The People’s Bank of China has rejected claims that the yuan is undervalued, according to Commerzbank’s FX team. The central bank linked China’s export strength to industrial competitiveness rather than currency valuation.

Commerzbank highlighted the central bank’s defense of the yuan narrative as part of its latest FX commentary. The remarks indicate that PBoC officials are pushing back on suggestions that the exchange rate is being used to support trade performance.

No specific policy changes or yuan levels were mentioned in the source.

Source: FXStreet Forex News