# forex

Yuan Strengthens Past 6.90 Against the Dollar, Hitting Highest Level in 33 Months

The yuan climbed past 6.90 per dollar on February 12, reaching levels not seen since May 2023 as both onshore and offshore markets rallied. The move reflects softer dollar dynamics, renewed foreign inflows and cautious central-bank guidance via a conservative midpoint setting, but risks from U.S. policy shifts and domestic growth surprises remain.